Baird Financial Group Inc. Has $2.84 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Baird Financial Group Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,553 shares of the utilities provider’s stock after purchasing an additional 5,000 shares during the period. Baird Financial Group Inc.’s holdings in Public Service Enterprise Group were worth $2,835,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC lifted its position in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. lifted its position in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $2,565,000. Czech National Bank lifted its position in Public Service Enterprise Group by 6.4% during the fourth quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after acquiring an additional 6,545 shares during the last quarter. Finally, Avanza Fonder AB acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $4,736,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on PEG. Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. Finally, Guggenheim dropped their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $88.81.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.7%

Shares of PEG opened at $78.92 on Monday. Public Service Enterprise Group Incorporated has a one year low of $71.89 and a one year high of $95.22. The company has a market cap of $39.38 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $80.97 and a two-hundred day simple moving average of $84.46.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.19%. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

Public Service Enterprise Group Company 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.