Dynamic Advisor Solutions LLC Has $3.95 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dynamic Advisor Solutions LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 759.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,273 shares of the utilities provider’s stock after purchasing an additional 39,124 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Public Service Enterprise Group were worth $3,950,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the 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 sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,446 shares of company stock worth $2,531,260. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $91.00 on Wednesday. The business’s fifty day moving average price is $82.84 and its two-hundred day moving average price is $75.63. The stock has a market capitalization of $45.33 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 3.32 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $0.70 EPS. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $0.60 per share. The ex-dividend date was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.64%. Public Service Enterprise Group’s payout ratio is 66.48%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group increased their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Scotiabank lifted their price objective on shares of 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. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective on the stock. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays boosted their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $84.62.

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.