Massachusetts Financial Services Co. MA Sells 101,101 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Massachusetts Financial Services Co. MA lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,940,179 shares of the utilities provider’s stock after selling 101,101 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Public Service Enterprise Group were worth $224,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Public Service Enterprise Group by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 43,654,799 shares of the utilities provider’s stock worth $3,055,836,000 after purchasing an additional 1,159,331 shares during the period. JPMorgan Chase & Co. grew its position in Public Service Enterprise Group by 38.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,294,384 shares of the utilities provider’s stock worth $2,021,951,000 after purchasing an additional 9,017,393 shares during the period. State Street Corp grew its position in Public Service Enterprise Group by 1.1% in the 2nd quarter. State Street Corp now owns 30,420,823 shares of the utilities provider’s stock worth $1,904,648,000 after purchasing an additional 324,392 shares during the period. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 10,699,205 shares of the utilities provider’s stock worth $668,143,000 after purchasing an additional 445,550 shares during the period. Finally, Northern Trust Corp grew its position in Public Service Enterprise Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 6,032,006 shares of the utilities provider’s stock worth $422,240,000 after purchasing an additional 72,773 shares during the period. Institutional investors own 72.28% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 1st. StockNews.com downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Barclays boosted their price objective on shares of Public Service Enterprise Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Guggenheim downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.95.

Get Our Latest Stock Analysis on Public Service Enterprise Group

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $63.01, for a total value of $86,575.74. Following the completion of the transaction, the chief executive officer now owns 110,702 shares of the company’s stock, valued at approximately $6,975,333.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 1,974 shares of company stock valued at $123,226 in the last 90 days. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $58.20 on Tuesday. The company has a market capitalization of $29.00 billion, a P/E ratio of 10.37, a P/E/G ratio of 3.21 and a beta of 0.57. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.45 and a current ratio of 0.63. The company has a fifty day moving average of $60.80 and a 200 day moving average of $60.94. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $65.46.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend was Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 40.64%.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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