Argentarii LLC Has $330,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Argentarii LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 45.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,006 shares of the utilities provider's stock after selling 3,371 shares during the period. Argentarii LLC's holdings in Public Service Enterprise Group were worth $330,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Transce3nd LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $25,000. REAP Financial Group LLC raised its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $39,000. Finally, Optiver Holding B.V. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. Guggenheim decreased their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research note on Wednesday, March 19th. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Barclays lowered their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Evercore ISI cut their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $89.54.

Public Service Enterprise Group Stock Up 0.6%

Shares of NYSE PEG opened at $81.69 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The firm has a market cap of $40.76 billion, a PE ratio of 22.32, a P/E/G ratio of 2.91 and a beta of 0.48. The company's fifty day simple moving average is $80.43 and its 200 day simple moving average is $82.25. Public Service Enterprise Group Incorporated has a 12-month low of $73.72 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Public Service Enterprise Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.