California State Teachers Retirement System Has $40.02 Million Stake in Public Service Enterprise Group Incorporated (PEG)

California State Teachers Retirement System decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 865,285 shares of the utilities provider’s stock after selling 68,035 shares during the quarter. California State Teachers Retirement System owned 0.17% of Public Service Enterprise Group worth $40,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wsfs Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 0.5% during the 2nd quarter. Wsfs Capital Management LLC now owns 9,123 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 44 shares during the period. FCG Advisors LLC grew its stake in Public Service Enterprise Group by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock valued at $516,000 after acquiring an additional 52 shares during the period. BRYN MAWR TRUST Co grew its stake in Public Service Enterprise Group by 1.2% in the 2nd quarter. BRYN MAWR TRUST Co now owns 5,961 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 73 shares during the period. Parallel Advisors LLC grew its stake in Public Service Enterprise Group by 6.0% in the 2nd quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 157 shares during the period. Finally, IHT Wealth Management LLC grew its stake in Public Service Enterprise Group by 45.9% in the 2nd quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock valued at $131,000 after acquiring an additional 202 shares during the period. 66.77% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Ralph Izzo sold 79,920 shares of Public Service Enterprise Group stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $48.83, for a total transaction of $3,902,493.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction 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. Insiders sold a total of 263,951 shares of company stock worth $13,045,041 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) traded up $0.36 during mid-day trading on Friday, reaching $52.30. The company’s stock had a trading volume of 5,502,561 shares, compared to its average volume of 3,710,243. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The stock has a market cap of $26,283.65, a price-to-earnings ratio of 17.91, a P/E/G ratio of 6.47 and a beta of 0.41. Public Service Enterprise Group Incorporated has a 12 month low of $41.67 and a 12 month high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $2.26 billion during 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 company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. equities research analysts predict that Public Service Enterprise Group Incorporated will post 2.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a $0.43 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.29%. Public Service Enterprise Group’s payout ratio is currently 166.99%.

A number of equities research analysts recently issued reports on PEG shares. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. J P Morgan Chase & Co lifted their price target on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Thursday, September 14th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $47.00 price target on shares of Public Service Enterprise Group in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $50.81.

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Public Service Enterprise Group 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.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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