Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Avanza Fonder AB

Avanza Fonder AB decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,536 shares of the utilities provider's stock after selling 8,519 shares during the quarter. Avanza Fonder AB's holdings in Public Service Enterprise Group were worth $3,983,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Apollon Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. Apollon Wealth Management LLC now owns 15,100 shares of the utilities provider's stock worth $1,276,000 after acquiring an additional 387 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 22.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,360 shares of the utilities provider's stock worth $622,000 after acquiring an additional 1,334 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Public Service Enterprise Group by 4.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,607 shares of the utilities provider's stock worth $896,000 after acquiring an additional 418 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Public Service Enterprise Group by 9.6% during the 4th quarter. Empowered Funds LLC now owns 9,163 shares of the utilities provider's stock worth $774,000 after acquiring an additional 801 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in shares of Public Service Enterprise Group by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 38,967 shares of the utilities provider's stock worth $3,292,000 after acquiring an additional 311 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PEG shares. Morgan Stanley decreased their price target on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. Evercore ISI decreased their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Guggenheim decreased their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Bank of America decreased their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Finally, BMO Capital Markets decreased their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $89.63.

Public Service Enterprise Group Stock Down 0.8%

Shares of PEG traded down $0.67 during trading hours on Friday, hitting $80.89. The company had a trading volume of 2,446,620 shares, compared to its average volume of 2,802,753. The company has a market capitalization of $40.36 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a one year low of $72.25 and a one year high of $95.22. The company's fifty day moving average price is $80.29 and its two-hundred day moving average price is $82.99.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.31 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is 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.