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

Sax Wealth Advisors LLC reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the utilities provider’s stock after selling 2,590 shares during the period. Sax Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James & Associates increased its position in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after acquiring an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT purchased a new position in shares of Public Service Enterprise Group during the second quarter worth $71,298,000. Hsbc Holdings PLC lifted its position in Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares during the period. Reaves W H & Co. Inc. boosted its holdings in Public Service Enterprise Group by 73.9% in the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after purchasing an additional 667,773 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after purchasing an additional 634,587 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $89.76 on Friday. The firm’s 50-day moving average is $84.72 and its two-hundred day moving average is $76.95. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company has a market capitalization of $44.71 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.92.

Public Service Enterprise Group 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.