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

Leo Wealth LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,910 shares of the utilities provider’s stock after selling 5,725 shares during the quarter. Leo Wealth LLC’s holdings in Public Service Enterprise Group were worth $1,091,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Centennial Wealth Advisory LLC lifted its holdings in shares of Public Service Enterprise Group by 6.4% during the fourth quarter. Centennial Wealth Advisory LLC now owns 6,773 shares of the utilities provider’s stock worth $572,000 after purchasing an additional 406 shares during the period. Choreo LLC raised its position in Public Service Enterprise Group by 71.4% during the 4th quarter. Choreo LLC now owns 41,643 shares of the utilities provider’s stock worth $3,535,000 after buying an additional 17,352 shares during the last quarter. Confluence Wealth Services Inc. lifted its stake in shares of Public Service Enterprise Group by 38.9% in the 4th quarter. Confluence Wealth Services Inc. now owns 20,433 shares of the utilities provider’s stock worth $1,802,000 after acquiring an additional 5,722 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Public Service Enterprise Group by 203.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,541 shares of the utilities provider’s stock valued at $8,005,000 after acquiring an additional 63,430 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in shares of Public Service Enterprise Group by 4.8% in the fourth quarter. Spirit of America Management Corp NY now owns 10,850 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 500 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock worth $836,549 in the last 90 days. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.93 on Friday. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 1 year low of $57.40 and a 1 year high of $95.22. The company’s 50 day simple moving average is $86.35 and its 200 day simple moving average is $85.36.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The business 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 business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 earnings per share. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

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.