Advisor Group Holdings Inc. Sells 565 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Advisor Group Holdings Inc. cut its position in Public Service Enterprise Group Incorporated (NYSE:PEGGet Rating) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,746 shares of the utilities provider’s stock after selling 565 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Public Service Enterprise Group were worth $9,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. State Street Corp increased its stake in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. State Street Corp now owns 28,379,042 shares of the utilities provider’s stock valued at $1,893,733,000 after purchasing an additional 219,401 shares during the last quarter. Capital Research Global Investors boosted its stake in Public Service Enterprise Group by 24.0% in the fourth quarter. Capital Research Global Investors now owns 22,864,793 shares of the utilities provider’s stock valued at $1,525,768,000 after buying an additional 4,425,830 shares in the last quarter. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 9,626,846 shares of the utilities provider’s stock valued at $640,751,000 after acquiring an additional 133,384 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Public Service Enterprise Group by 8.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,329,900 shares of the utilities provider’s stock worth $555,855,000 after acquiring an additional 640,728 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Public Service Enterprise Group by 4.7% in the fourth quarter. Invesco Ltd. now owns 4,833,329 shares of the utilities provider’s stock worth $322,529,000 after acquiring an additional 218,068 shares during the last quarter. Institutional investors own 70.82% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph Izzo sold 9,883 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $64.15, for a total value of $633,994.45. Following the transaction, the chief executive officer now owns 447,656 shares in the company, valued at approximately $28,717,132.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ralph Izzo sold 9,883 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $64.15, for a total transaction of $633,994.45. Following the completion of the sale, the chief executive officer now directly owns 447,656 shares of the company’s stock, valued at approximately $28,717,132.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Ralph A. Larossa sold 1,054 shares of Public Service Enterprise Group stock in a transaction on Friday, July 29th. The stock was sold at an average price of $65.75, for a total value of $69,300.50. Following the sale, the chief operating officer now owns 62,313 shares in the company, valued at $4,097,079.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,157 shares of company stock worth $2,120,423. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research reports. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $75.00 to $81.00 and gave the company a “maintains” rating in a report on Wednesday. Mizuho dropped their price target on Public Service Enterprise Group from $73.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Barclays dropped their target price on Public Service Enterprise Group from $75.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Finally, StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.91.

Public Service Enterprise Group Price Performance

PEG stock opened at $65.38 on Thursday. Public Service Enterprise Group Incorporated has a 1 year low of $58.19 and a 1 year high of $75.61. The stock has a market capitalization of $32.64 billion, a PE ratio of -25.44, a price-to-earnings-growth ratio of 5.34 and a beta of 0.55. The company’s 50-day moving average is $63.36 and its 200-day moving average is $66.35. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.89 and a quick ratio of 0.79.

Public Service Enterprise Group (NYSE:PEGGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The utilities provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $1.78 billion. Public Service Enterprise Group had a negative net margin of 14.19% and a positive return on equity of 12.94%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.47 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, September 8th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently -84.05%.

Public Service Enterprise Group Profile

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Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid-Atlantic United States. It operates through two segments, PSE&G and PSEG Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs.

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

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