First Horizon Advisors Inc. Decreases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Horizon Advisors Inc. cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 392,697 shares of the utilities provider's stock after selling 3,703 shares during the quarter. First Horizon Advisors Inc. owned 0.08% of Public Service Enterprise Group worth $32,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $358,000. Fisher Asset Management LLC raised its holdings in Public Service Enterprise Group by 14.5% in the 4th quarter. Fisher Asset Management LLC now owns 8,404 shares of the utilities provider's stock worth $710,000 after purchasing an additional 1,062 shares during the period. US Bancorp DE lifted its position in Public Service Enterprise Group by 7.2% during the fourth quarter. US Bancorp DE now owns 71,561 shares of the utilities provider's stock valued at $6,046,000 after purchasing an additional 4,777 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Public Service Enterprise Group by 41.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,232 shares of the utilities provider's stock valued at $273,000 after purchasing an additional 944 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Public Service Enterprise Group by 44.4% during the fourth quarter. Jones Financial Companies Lllp now owns 6,034 shares of the utilities provider's stock valued at $510,000 after purchasing an additional 1,856 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.47 during mid-day trading on Friday, reaching $81.69. The company's stock had a trading volume of 2,018,416 shares, compared to its average volume of 2,782,448. The firm has a market capitalization 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 has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The stock has a fifty day moving average of $80.43 and a two-hundred day moving average of $82.25. Public Service Enterprise Group Incorporated has a 52 week low of $73.72 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates 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 11.80% and a net margin of 17.01%. 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 company posted $1.31 earnings per share. As a group, sell-side analysts anticipate 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 was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Evercore ISI reduced their price objective on shares of 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. Barclays decreased their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $89.54.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.