Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,490 shares of the utilities provider’s stock after selling 310 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $464,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the third quarter worth $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $59,000. Fortitude Family Office LLC increased its position in shares of Public Service Enterprise Group by 325.0% in the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after buying an additional 611 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $66,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PEG shares. Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,234 shares of company stock worth $722,037. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $88.20 on Friday. The stock has a fifty day moving average price of $87.70 and a 200 day moving average price of $84.36. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22. The firm has a market capitalization of $43.94 billion, a P/E ratio of 21.67, a PEG ratio of 2.81 and a beta of 0.65. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.85 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.