Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Decreased by SageView Advisory Group LLC

SageView Advisory Group LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,435 shares of the utilities provider’s stock after selling 809 shares during the period. SageView Advisory Group LLC’s holdings in Public Service Enterprise Group were worth $574,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. CWM LLC boosted its holdings in Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares during the period. CX Institutional bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $204,000. QRG Capital Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares during the period. SG Americas Securities LLC grew its position in shares of Public Service Enterprise Group by 133.4% during the 2nd quarter. SG Americas Securities LLC now owns 150,370 shares of the utilities provider’s stock valued at $11,082,000 after buying an additional 85,933 shares during the last quarter. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group during the second quarter worth about $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PEG. UBS Group lifted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Scotiabank upped their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.08.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,361 shares of company stock valued at $2,356,562 over the last three months. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 1.6 %

PEG stock opened at $90.01 on Friday. The firm’s 50-day moving average is $89.62 and its two-hundred day moving average is $81.82. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $44.85 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 3.37 and a beta of 0.62. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.67%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

About Public Service Enterprise Group

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.