OLD Second National Bank of Aurora Sells 546 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

OLD Second National Bank of Aurora decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.7% during the first quarter, Holdings Channel reports. The firm owned 31,898 shares of the utilities provider’s stock after selling 546 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Public Service Enterprise Group were worth $2,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC lifted its position in Public Service Enterprise Group by 16.2% during the first quarter. Manchester Capital Management LLC now owns 2,041 shares of the utilities provider’s stock valued at $136,000 after purchasing an additional 285 shares during the period. Oxbow Advisors LLC bought a new position in Public Service Enterprise Group in the first quarter worth approximately $4,780,000. SPC Financial Inc. raised its position in Public Service Enterprise Group by 4.0% in the first quarter. SPC Financial Inc. now owns 7,853 shares of the utilities provider’s stock worth $524,000 after acquiring an additional 300 shares during the period. Csenge Advisory Group raised its position in Public Service Enterprise Group by 4.9% in the first quarter. Csenge Advisory Group now owns 7,667 shares of the utilities provider’s stock worth $512,000 after acquiring an additional 357 shares during the period. Finally, Richardson Financial Services Inc. raised its position in Public Service Enterprise Group by 10.9% in the first quarter. Richardson Financial Services Inc. now owns 2,605 shares of the utilities provider’s stock worth $174,000 after acquiring an additional 255 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Scotiabank decreased their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Monday, June 24th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research report on Monday, June 17th. Finally, BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.17.

Public Service Enterprise Group Price Performance

PEG traded up $0.31 during trading on Friday, hitting $76.84. 811,441 shares of the company traded hands, compared to its average volume of 2,823,015. The company has a market cap of $38.27 billion, a PE ratio of 21.20, a P/E/G ratio of 3.17 and a beta of 0.59. The stock’s 50-day simple moving average is $73.86 and its two-hundred day simple moving average is $66.57. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $77.46. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business’s revenue was down 26.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.12%. Public Service Enterprise Group’s payout ratio is 66.48%.

Public Service Enterprise Group 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.