Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,081 shares of the utilities provider’s stock after selling 821 shares during the period. Benjamin Edwards Inc.’s holdings in Public Service Enterprise Group were worth $2,696,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Fortitude Advisory Group L.L.C. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at about $214,000. First Trust Direct Indexing L.P. raised its stake in Public Service Enterprise Group by 13.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 17,300 shares of the utilities provider’s stock valued at $1,058,000 after purchasing an additional 1,994 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.5% during the fourth quarter. New York Life Investment Management LLC now owns 77,659 shares of the utilities provider’s stock worth $4,749,000 after purchasing an additional 353 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Public Service Enterprise Group by 1.1% in the 4th quarter. Victory Capital Management Inc. now owns 532,507 shares of the utilities provider’s stock worth $32,563,000 after buying an additional 5,858 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Public Service Enterprise Group by 16.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 2,057 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 289 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction 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. Over the last three months, insiders sold 7,948 shares of company stock valued at $511,814. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.02 during trading hours on Thursday, reaching $69.79. The stock had a trading volume of 1,283,475 shares, compared to its average volume of 2,872,578. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $70.46. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The business’s fifty day moving average is $65.17 and its two-hundred day moving average is $62.48. The company has a market cap of $34.80 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 3.02 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last issued its 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). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $1.39 earnings per share. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.44%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays upped their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Bank of America raised their price objective on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Royal Bank of Canada upped their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Evercore ISI lifted their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Scotiabank lowered their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Company Profile

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.