Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,527 shares of the utilities provider’s stock after buying an additional 7,837 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,561,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Stevens Capital Management LP acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $449,000. Bailard Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $1,055,000. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Public Service Enterprise Group by 14.9% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,250 shares of the utilities provider’s stock valued at $627,000 after buying an additional 1,333 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Public Service Enterprise Group by 21.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 17,393 shares of the utilities provider’s stock valued at $1,064,000 after buying an additional 3,072 shares in the last quarter. Finally, Carret Asset Management LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $214,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. Barclays upped their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI upped their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.15.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 7,948 shares of company stock valued at $511,814 in the last ninety days. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded down $0.28 during trading hours on Friday, reaching $67.81. 2,973,057 shares of the stock were exchanged, compared to its average volume of 2,842,513. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $68.39. The stock has a market cap of $33.81 billion, a P/E ratio of 13.22, a P/E/G ratio of 2.94 and a beta of 0.58. The firm’s 50 day moving average is $64.64 and its 200 day moving average is $62.28.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was down 17.0% on a year-over-year basis. Analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

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.