Bradley Foster & Sargent Inc. CT Has $601,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bradley Foster & Sargent Inc. CT trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,158 shares of the utilities provider’s stock after selling 1,764 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Public Service Enterprise Group were worth $601,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at about $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $36,000. Salomon & Ludwin LLC increased its stake in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,068 shares of company stock valued at $2,406,965. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Bank of America upped their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Finally, Scotiabank increased their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Public Service Enterprise Group Stock Down 1.0 %

Shares of PEG stock opened at $83.41 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $85.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market cap of $41.55 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 3.03 and a beta of 0.60. The firm’s 50-day moving average is $79.49 and its 200-day moving average is $73.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Public Service Enterprise Group 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.