Modera Wealth Management LLC Has $444,000 Holdings in Public Service Enterprise Group Incorporated (PEG)

Modera Wealth Management LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,332 shares of the utilities provider’s stock after selling 446 shares during the quarter. Modera Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $444,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV grew its stake in Public Service Enterprise Group by 1.2% during the 2nd quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after acquiring an additional 617 shares in the last quarter. FMR LLC grew its stake in Public Service Enterprise Group by 1.9% during the 1st quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after acquiring an additional 40,125 shares in the last quarter. Vanguard Group Inc. grew its stake in Public Service Enterprise Group by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after acquiring an additional 1,144,077 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Public Service Enterprise Group by 4.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock valued at $5,778,000 after acquiring an additional 5,263 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its stake in Public Service Enterprise Group by 6.6% during the 1st quarter. Peapack Gladstone Financial Corp now owns 151,656 shares of the utilities provider’s stock valued at $6,726,000 after acquiring an additional 9,338 shares in the last quarter. 65.88% of the stock is currently owned by institutional investors.

In related news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chairman now owns 748,121 shares in the company, valued at $32,042,022.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Insiders have sold 54,900 shares of company stock worth $2,413,947 over the last ninety days. 0.61% of the stock is owned by insiders.

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Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.19 on Friday. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 51.90 and a beta of 0.39. The company has a 50-day moving average price of $46.22 and a 200 day moving average price of $44.64. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

Several research firms have weighed in on PEG. Barclays PLC raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $49.00 to $51.00 in a research note on Friday. Morgan Stanley raised Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Wednesday. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.05.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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