EP Wealth Advisors LLC Sells 293 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

EP Wealth Advisors LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,256 shares of the utilities provider’s stock after selling 293 shares during the quarter. EP Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PEG. KBC Group NV grew its stake in Public Service Enterprise Group by 13.7% during the fourth quarter. KBC Group NV now owns 37,433 shares of the utilities provider’s stock worth $2,289,000 after buying an additional 4,501 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Public Service Enterprise Group by 161.8% during the 4th quarter. Jones Financial Companies Lllp now owns 987 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 610 shares in the last quarter. Rafferty Asset Management LLC raised its position in Public Service Enterprise Group by 9.3% in the 4th quarter. Rafferty Asset Management LLC now owns 55,599 shares of the utilities provider’s stock valued at $3,400,000 after purchasing an additional 4,728 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 42,476 shares of the utilities provider’s stock worth $2,597,000 after purchasing an additional 2,567 shares during the last quarter. Finally, Lake Street Advisors Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $231,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.5 %

NYSE:PEG opened at $92.02 on Friday. The firm has a market capitalization of $45.83 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.22 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $55.07 and a twelve month high of $92.20. The stock’s 50 day moving average price is $82.58 and its two-hundred day moving average price is $75.28.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company posted $0.70 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a $0.60 dividend. The ex-dividend date was Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.61%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday, June 17th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley lifted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, UBS Group increased their price target on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. 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, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $81.46.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. 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 owned by company insiders.

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.