Public Employees Retirement System of Ohio Has $16.95 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Public Employees Retirement System of Ohio lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,988 shares of the utilities provider’s stock after selling 7,032 shares during the period. Public Employees Retirement System of Ohio’s holdings in Public Service Enterprise Group were worth $16,949,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after purchasing an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock worth $263,315,000 after acquiring an additional 19,650 shares in the last quarter. Raymond James & Associates increased its position in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after acquiring an additional 663,012 shares in the last quarter. Hamlin Capital Management LLC increased its position in shares of Public Service Enterprise Group by 7.2% during the third quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after acquiring an additional 162,731 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock valued at $1,595,921 in the last quarter. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several analyst reports. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays dropped their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.08.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $86.38 on Wednesday. The firm’s 50 day simple moving average is $89.63 and its 200 day simple moving average is $82.13. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $43.04 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 3.30 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.