Public Service Enterprise Group Incorporated (NYSE:PEG) Chairman Ralph Izzo Sells 60,793 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) Chairman Ralph Izzo sold 60,793 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $49.70, for a total transaction of $3,021,412.10. Following the transaction, the chairman now directly owns 748,778 shares in the company, valued at approximately $37,214,266.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Ralph Izzo also recently made the following trade(s):

  • On Thursday, October 26th, Ralph Izzo sold 6,427 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $49.45, for a total transaction of $317,815.15.
  • On Friday, October 13th, Ralph Izzo sold 39,960 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $49.20, for a total transaction of $1,966,032.00.
  • On Thursday, October 12th, Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock. The shares were sold at an average price of $48.83, for a total transaction of $3,902,493.60.
  • On Monday, October 2nd, Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock. The stock was sold at an average price of $46.50, for a total transaction of $968,734.50.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at $50.66 on Tuesday. The company has a market capitalization of $25,494.23, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 6.59 and a beta of 0.39. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $51.03.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. equities research analysts expect that Public Service Enterprise Group Incorporated will post 2.92 EPS for the current fiscal year.

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Several brokerages have recently issued reports on PEG. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Citigroup Inc. reiterated a “neutral” rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, Barclays PLC upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $49.00 to $51.00 in a research note on Friday, September 22nd. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.42.

Several institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV raised its stake in shares of Public Service Enterprise Group by 1.2% during the 2nd quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after purchasing an additional 617 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Public Service Enterprise Group by 11.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock worth $221,000 after purchasing an additional 541 shares in the last quarter. Rench Wealth Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 1.1% in the 2nd quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock worth $1,856,000 after purchasing an additional 470 shares in the last quarter. People s United Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 174.1% in the 2nd quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 5,119 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Public Service Enterprise Group by 4.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock worth $5,778,000 after purchasing an additional 5,263 shares in the last quarter. Hedge funds and other institutional investors own 65.03% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Public Service Enterprise Group (NYSE:PEG)

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