Integrated Advisors Network LLC Sells 5,257 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Integrated Advisors Network LLC decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 67.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,533 shares of the utilities provider's stock after selling 5,257 shares during the period. Integrated Advisors Network LLC's holdings in Public Service Enterprise Group were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its holdings in 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. Gladstone Institutional Advisory LLC lifted its position in shares of Public Service Enterprise Group by 34.1% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 3,822 shares of the utilities provider's stock worth $323,000 after purchasing an additional 972 shares in the last quarter. WASHINGTON TRUST Co grew its stake in shares of Public Service Enterprise Group by 60.2% during the fourth quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 396 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Public Service Enterprise Group by 4.6% in the fourth quarter. Principal Securities Inc. now owns 6,021 shares of the utilities provider's stock valued at $509,000 after purchasing an additional 263 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Public Service Enterprise Group by 103.3% in the fourth quarter. Allworth Financial LP now owns 10,844 shares of the utilities provider's stock valued at $957,000 after purchasing an additional 5,509 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Barclays decreased their price objective on 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. BMO Capital Markets decreased their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. Bank of America dropped their price objective 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. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned 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 price target of $89.63.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the sale, 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 can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 0.1%

Public Service Enterprise Group stock traded down $0.12 during midday trading on Tuesday, hitting $81.04. 2,940,637 shares of the stock were exchanged, compared to its average volume of 2,802,222. Public Service Enterprise Group Incorporated has a 52 week low of $72.25 and a 52 week high of $95.22. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $40.44 billion, a PE ratio of 21.36, a P/E/G ratio of 2.91 and a beta of 0.48. The company has a fifty day simple moving average of $80.36 and a two-hundred day simple moving average of $82.74.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the firm posted $1.31 earnings per share. The business's quarterly revenue was up 16.7% compared to the same quarter last year. Equities research 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 firm 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

About Public Service Enterprise Group

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.