Crossmark Global Holdings Inc. Has $1.96 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Crossmark Global Holdings Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 26,607 shares of the utilities provider’s stock after purchasing an additional 331 shares during the period. Crossmark Global Holdings Inc.’s holdings in Public Service Enterprise Group were worth $1,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Norges Bank purchased a new position in Public Service Enterprise Group during the 4th quarter worth $215,074,000. Raymond James & Associates boosted its holdings in Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after purchasing an additional 1,674,827 shares during the last quarter. Reaves W H & Co. Inc. grew its position in Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its position in shares of Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after buying an additional 455,693 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $0.34 during trading hours on Friday, hitting $80.75. 4,377,201 shares of the company’s stock traded hands, compared to its average volume of 2,809,733. The firm has a market cap of $40.22 billion, a P/E ratio of 22.37, a P/E/G ratio of 3.00 and a beta of 0.59. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The business’s fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $71.12. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.97%. Public Service Enterprise Group’s payout ratio is 66.48%.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PEG. Scotiabank increased their price target 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. Barclays raised their target price on Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.33.

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.