KBC Group NV Has $10.56 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

KBC Group NV lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.6% during the 4th quarter, HoldingsChannel reports. The fund owned 124,966 shares of the utilities provider’s stock after buying an additional 22,231 shares during the period. KBC Group NV’s holdings in Public Service Enterprise Group were worth $10,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in shares of Public Service Enterprise Group by 1.1% during the 2nd quarter. Mackenzie Financial Corp now owns 51,118 shares of the utilities provider’s stock worth $3,767,000 after purchasing an additional 566 shares during the period. Creative Planning increased its stake in Public Service Enterprise Group by 17.5% during the second quarter. Creative Planning now owns 90,985 shares of the utilities provider’s stock valued at $6,706,000 after acquiring an additional 13,559 shares during the period. NewEdge Advisors LLC raised its holdings in Public Service Enterprise Group by 22.1% in the 2nd quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider’s stock valued at $2,031,000 after acquiring an additional 4,993 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Public Service Enterprise Group by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,682 shares of the utilities provider’s stock worth $2,114,000 after acquiring an additional 2,003 shares during the period. Finally, Truist Financial Corp grew its holdings in shares of Public Service Enterprise Group by 1.0% during the 2nd quarter. Truist Financial Corp now owns 168,545 shares of the utilities provider’s stock worth $12,422,000 after purchasing an additional 1,740 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,234 shares of company stock worth $722,037. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. UBS Group increased their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Stock Performance

PEG stock opened at $81.87 on Thursday. The stock has a market capitalization of $40.79 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65. 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 company has a 50 day moving average price of $87.49 and a 200 day moving average price of $85.07. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.24 and a fifty-two week high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.