Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,612 shares of the utilities provider’s stock after selling 3,438 shares during the period. Glenmede Trust Co. NA’s holdings in Public Service Enterprise Group were worth $3,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the third quarter worth $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group during the second quarter worth $52,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

Shares of NYSE:PEG opened at $94.30 on Friday. The company has a 50 day moving average of $89.31 and a 200-day moving average of $81.39. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $46.98 billion, a P/E ratio of 23.17, a P/E/G ratio of 3.46 and a beta of 0.61. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research reports. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.69.

About Public Service Enterprise Group

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.