HB Wealth Management LLC Sells 837 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

HB Wealth Management LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 16.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,168 shares of the utilities provider’s stock after selling 837 shares during the period. HB Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC grew its position in Public Service Enterprise Group by 34.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 11,391 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 2,936 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,030,000. AQR Capital Management LLC raised its position in Public Service Enterprise Group by 39.7% in the 3rd quarter. AQR Capital Management LLC now owns 429,566 shares of the utilities provider’s stock worth $24,425,000 after purchasing an additional 122,178 shares during the period. Alps Advisors Inc. bought a new stake in Public Service Enterprise Group in the third quarter worth $3,752,000. Finally, Lido Advisors LLC boosted its position in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after buying an additional 183 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $74.07 on Friday. 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’s 50 day simple moving average is $73.35 and its two-hundred day simple moving average is $66.16. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.07 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.39 earnings per share. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEG shares. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Mizuho lifted their target price on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Bank of America upped their price target on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $72.42.

Read Our Latest Analysis on Public Service Enterprise Group

Public Service Enterprise Group 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.

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

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