Focus Partners Advisor Solutions LLC Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Focus Partners Advisor Solutions LLC cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 53.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,984 shares of the utilities provider's stock after selling 8,029 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Public Service Enterprise Group were worth $590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Center for Financial Planning Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management raised its holdings in Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after buying an additional 121 shares during the last quarter. United Asset Strategies Inc. boosted its position in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after buying an additional 127 shares during the period. Fifth Third Bancorp grew its stake in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after purchasing an additional 139 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Public Service Enterprise Group by 10.1% in the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after purchasing an additional 139 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 1.9%

Shares of PEG stock traded down $1.49 during trading hours on Wednesday, reaching $78.11. The company had a trading volume of 2,192,850 shares, compared to its average volume of 2,748,362. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $38.98 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $71.89 and a 12 month high of $95.22. The business has a fifty day simple moving average of $80.48 and a 200-day simple moving average of $83.81.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, research analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 in the company, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PEG shares. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research report on Wednesday, March 19th. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Guggenheim lowered 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 note on Thursday, May 1st. 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. Finally, Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Hold" and a consensus target price 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.