Public Service Enterprise Group Incorporated (NYSE:PEG) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $53.48, but opened at $50.74. Public Service Enterprise Group shares last traded at $49.25, with a volume of 8168742 shares.

Specifically, Chairman Ralph Izzo sold 39,960 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $49.20, for a total transaction of $1,966,032.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Derek M. Dirisio sold 2,185 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,951 shares of company stock valued at $13,143,997. Insiders own 0.61% of the company’s stock.

PEG has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Thursday, September 14th. Barclays upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd. Evercore ISI upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $46.75 to $50.00 in a research report on Monday, September 25th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $47.00 price objective on shares of Public Service Enterprise Group in a research report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.32.

The company has a market cap of $25,130.00, a price-to-earnings ratio of 48.69, a P/E/G ratio of 6.19 and a beta of 0.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the firm earned $0.88 EPS. Public Service Enterprise Group’s revenue for the quarter was down 7.6% on a year-over-year basis. sell-side analysts expect that Public Service Enterprise Group Incorporated will post 2.93 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 8th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.72 annualized dividend and a yield of 3.46%. Public Service Enterprise Group’s payout ratio is 168.63%.

A number of large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its holdings in shares of Public Service Enterprise Group by 45.9% in the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after buying an additional 202 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Public Service Enterprise Group by 209.4% in the third quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock valued at $105,000 after buying an additional 1,539 shares in the last quarter. Vantage Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 35.3% in the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock valued at $115,000 after buying an additional 700 shares in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of Public Service Enterprise Group by 13.8% in the second quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock valued at $149,000 after buying an additional 424 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at $185,000. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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