Private Wealth Management Group LLC Has $364,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Private Wealth Management Group LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 407.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,419 shares of the utilities provider's stock after purchasing an additional 3,549 shares during the quarter. Private Wealth Management Group LLC's holdings in Public Service Enterprise Group were worth $364,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $445,005,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock worth $169,404,000 after acquiring an additional 1,719,614 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after acquiring an additional 1,483,662 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Public Service Enterprise Group by 476.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock worth $75,652,000 after acquiring an additional 759,873 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Public Service Enterprise Group by 151.2% during the 4th quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider's stock worth $89,967,000 after acquiring an additional 640,949 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PEG shares. LADENBURG THALM/SH SH lowered 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. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. Morgan Stanley cut their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Evercore ISI cut their target price on 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. Finally, UBS Group upgraded Public Service Enterprise Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $86.00 to $97.00 in a research report on Monday, July 7th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $89.86.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $81.85 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a twelve month low of $73.72 and a twelve month high of $95.22. The company has a market cap of $40.84 billion, a P/E ratio of 22.36, a P/E/G ratio of 2.97 and a beta of 0.48. The business has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $82.10.

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 for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company earned $1.31 EPS. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.08%. Public Service Enterprise Group's payout ratio is 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the 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 completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

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.

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