Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,897 shares of the utilities provider’s stock after selling 3,779 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Public Service Enterprise Group were worth $3,235,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PEG. Modera Wealth Management LLC lifted its holdings in Public Service Enterprise Group by 2.6% in the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 170 shares during the period. Strategic Investment Advisors MI lifted its holdings in Public Service Enterprise Group by 1.0% in the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock worth $1,071,000 after purchasing an additional 179 shares during the period. Lido Advisors LLC lifted its holdings in Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 183 shares during the period. Signaturefd LLC lifted its holdings in Public Service Enterprise Group by 2.3% in the fourth quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock worth $519,000 after purchasing an additional 187 shares during the period. Finally, Spire Wealth Management lifted its holdings in Public Service Enterprise Group by 3.6% in the fourth quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 189 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,322 shares of company stock valued at $607,376. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 2.5 %

NYSE:PEG opened at $75.76 on Friday. The business’s 50-day simple moving average is $69.69 and its 200-day simple moving average is $64.38. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $75.82. The stock has a market capitalization of $37.73 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 3.85 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the business posted $1.39 EPS. The firm’s quarterly revenue was down 26.5% compared to the same quarter last year. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Analyst Ratings Changes

PEG has been the subject of a number of research analyst reports. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Bank of America upped their price target on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Finally, BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.92.

Check Out Our Latest Stock Report on PEG

Public Service Enterprise Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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