Atria Wealth Solutions Inc. Sells 6,473 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Atria Wealth Solutions Inc. cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 31.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,017 shares of the utilities provider's stock after selling 6,473 shares during the period. Atria Wealth Solutions Inc.'s holdings in Public Service Enterprise Group were worth $1,154,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in Public Service Enterprise Group by 6.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock valued at $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $298,000. Exchange Traded Concepts LLC increased its stake in Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after buying an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after buying an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $329,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $0.85 during midday trading on Thursday, reaching $86.82. The stock had a trading volume of 896,537 shares, compared to its average volume of 2,878,970. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The firm's fifty day simple moving average is $83.98 and its 200-day simple moving average is $82.23. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market capitalization of $43.33 billion, a P/E ratio of 21.92, a PEG ratio of 3.06 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $0.63 EPS. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.9%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the 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 directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PEG shares. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Guggenheim dropped their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Evercore ISI dropped their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Finally, BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $90.95.

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.