Kingsview Wealth Management LLC Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kingsview Wealth Management LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEGFree Report) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,795 shares of the utilities provider’s stock after selling 200 shares during the period. Kingsview Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEG. Arizona State Retirement System grew its holdings in shares of Public Service Enterprise Group by 4.7% during the second quarter. Arizona State Retirement System now owns 142,571 shares of the utilities provider’s stock valued at $8,926,000 after buying an additional 6,337 shares during the last quarter. Alaska Permanent Fund Corp purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $325,000. Guggenheim Capital LLC grew its holdings in shares of Public Service Enterprise Group by 9.2% during the second quarter. Guggenheim Capital LLC now owns 120,358 shares of the utilities provider’s stock valued at $7,536,000 after buying an additional 10,190 shares during the last quarter. Xponance Inc. grew its holdings in shares of Public Service Enterprise Group by 4.6% during the third quarter. Xponance Inc. now owns 64,223 shares of the utilities provider’s stock valued at $3,655,000 after buying an additional 2,825 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in shares of Public Service Enterprise Group by 0.8% during the second quarter. B. Riley Wealth Advisors Inc. now owns 41,965 shares of the utilities provider’s stock valued at $2,627,000 after buying an additional 334 shares during the last quarter. 72.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEG has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $59.00 to $63.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 1st. StockNews.com cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Barclays lifted their price target on shares of Public Service Enterprise Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Finally, Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $63.95.

View Our Latest Research Report on Public Service Enterprise Group

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $63.01, for a total value of $86,575.74. Following the sale, the chief executive officer now owns 110,702 shares in the company, valued at $6,975,333.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 1,974 shares of company stock worth $123,226. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.3 %

NYSE:PEG opened at $58.98 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $65.46. The firm has a 50 day moving average of $60.69 and a 200 day moving average of $60.90. The company has a quick ratio of 0.45, a current ratio of 0.63 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 3.21 and a beta of 0.57.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.28 dividend on an annualized basis and a yield of 3.87%. Public Service Enterprise Group’s payout ratio is 40.64%.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in Mid-Atlantic United States. The company operates through 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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