Financial Counselors Inc. Sells 654 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Financial Counselors Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,888 shares of the utilities provider’s stock after selling 654 shares during the period. Financial Counselors Inc.’s holdings in Public Service Enterprise Group were worth $413,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of Public Service Enterprise Group by 4.0% in the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock valued at $655,000 after acquiring an additional 283 shares during the period. FMR LLC grew its stake in shares of Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after purchasing an additional 877,345 shares during the last quarter. Townsquare Capital LLC increased its holdings in Public Service Enterprise Group by 15.6% during the 3rd quarter. Townsquare Capital LLC now owns 5,001 shares of the utilities provider’s stock valued at $446,000 after purchasing an additional 674 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Public Service Enterprise Group during the 3rd quarter valued at about $519,000. Finally, CreativeOne Wealth LLC raised its position in Public Service Enterprise Group by 10.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 4,485 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 410 shares during the last quarter. 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 1,378 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1 %

NYSE PEG opened at $81.57 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $64.03 and a 12 month high of $95.22. 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 stock’s fifty day moving average price is $83.03 and its 200-day moving average price is $86.06. The stock has a market cap of $40.67 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 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 down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Bank of America lowered their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.65.

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.