Focus Partners Advisor Solutions LLC Has $590,000 Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Focus Partners Advisor Solutions LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,984 shares of the utilities provider's stock after selling 8,029 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Public Service Enterprise Group were worth $590,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the fourth quarter worth approximately $39,000. Finally, Optiver Holding B.V. acquired a new position in 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 Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares in the company, valued at approximately $18,372,009.60. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $1.00 during midday trading on Thursday, hitting $79.09. The company had a trading volume of 525,236 shares, compared to its average volume of 2,742,903. The business's 50 day simple moving average is $80.38 and its two-hundred day simple moving average is $83.77. The stock has a market cap of $39.46 billion, a PE ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $71.89 and a 1-year 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 (EPS) for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company posted $1.31 earnings per share. Public Service Enterprise Group's quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group's dividend payout ratio is presently 68.85%.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Morgan Stanley lowered their price target on Public Service Enterprise Group from $102.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Finally, Barclays lowered their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $89.63.

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.