Zurcher Kantonalbank Zurich Cantonalbank Acquires 14,216 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

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Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,390 shares of the utilities provider’s stock after purchasing an additional 14,216 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $5,381,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Kistler Tiffany Companies LLC grew its position in shares of Public Service Enterprise Group by 11.6% in the fourth quarter. Kistler Tiffany Companies LLC now owns 2,738 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 285 shares during the last quarter. Boston Advisors LLC grew its position in shares of Public Service Enterprise Group by 2.5% in the fourth quarter. Boston Advisors LLC now owns 84,083 shares of the utilities provider’s stock valued at $4,377,000 after purchasing an additional 2,079 shares during the last quarter. Vanguard Group Inc grew its position in shares of Public Service Enterprise Group by 1.4% in the third quarter. Vanguard Group Inc now owns 40,281,314 shares of the utilities provider’s stock valued at $2,126,450,000 after purchasing an additional 545,315 shares during the last quarter. Norinchukin Bank The grew its position in shares of Public Service Enterprise Group by 13.5% in the third quarter. Norinchukin Bank The now owns 64,994 shares of the utilities provider’s stock valued at $3,431,000 after purchasing an additional 7,753 shares during the last quarter. Finally, Legacy Private Trust Co. grew its position in shares of Public Service Enterprise Group by 79.1% in the fourth quarter. Legacy Private Trust Co. now owns 38,219 shares of the utilities provider’s stock valued at $1,989,000 after purchasing an additional 16,884 shares during the last quarter. Institutional investors and hedge funds own 66.78% of the company’s stock.

PEG has been the topic of several research reports. Deutsche Bank decreased their target price on Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Wolfe Research raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 22nd. reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Monday, November 5th. Finally, Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $52.50 price target for the company in a research note on Thursday, January 17th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus target price of $57.04.

NYSE PEG opened at $56.91 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.72 and a quick ratio of 0.51. Public Service Enterprise Group Inc. has a fifty-two week low of $46.19 and a fifty-two week high of $56.95. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.63 and a beta of 0.43.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.45. This represents a $1.88 annualized dividend and a yield of 3.30%. Public Service Enterprise Group’s dividend payout ratio is presently 61.43%.

In other news, Chairman Ralph Izzo sold 52,406 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $50.87, for a total transaction of $2,665,893.22. Following the completion of the transaction, the chairman now directly owns 462,726 shares in the company, valued at $23,538,871.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ralph A. Larossa sold 25,046 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $55.57, for a total transaction of $1,391,806.22. The disclosure for this sale can be found here. Insiders have sold 182,266 shares of company stock valued at $9,806,747 over the last quarter. Company insiders own 0.58% of the company’s stock.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and 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 to customers.

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

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