Advanced Asset Management Advisors Inc Sells 396 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Advanced Asset Management Advisors Inc decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 26,056 shares of the utilities provider’s stock after selling 396 shares during the quarter. Advanced Asset Management Advisors Inc’s holdings in Public Service Enterprise Group were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PEG. Modera Wealth Management LLC increased its holdings in shares of Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after acquiring an additional 170 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Public Service Enterprise Group by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,686 shares of the utilities provider’s stock worth $3,567,000 after acquiring an additional 177 shares during the period. Strategic Investment Advisors MI lifted its position in Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after purchasing an additional 179 shares during the period. Lido Advisors LLC boosted its holdings in Public Service Enterprise Group by 4.1% in the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 183 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of Public Service Enterprise Group by 2.3% during the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3 %

PEG traded up $0.86 during mid-day trading on Thursday, hitting $68.09. 2,526,913 shares of the stock were exchanged, compared to its average volume of 2,841,935. The company has a market cap of $33.95 billion, a PE ratio of 13.11, a PEG ratio of 2.91 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The firm’s fifty day moving average is $64.31 and its two-hundred day moving average is $62.18. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $68.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.52%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

Wall Street Analyst Weigh In

Several research firms recently commented on PEG. Scotiabank dropped their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday. Royal Bank of Canada increased their price target on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Barclays boosted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI upped their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $511,814 in the last three months. 0.57% of the stock is owned by corporate insiders.

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.