Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 71.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,888 shares of the utilities provider's stock after selling 204,232 shares during the quarter. Nisa Investment Advisors LLC's holdings in Public Service Enterprise Group were worth $6,739,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $12,251,000. Independent Advisor Alliance grew its holdings in Public Service Enterprise Group by 14.2% in the 4th quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider's stock valued at $847,000 after buying an additional 1,245 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at $248,000. HighTower Advisors LLC grew its holdings in Public Service Enterprise Group by 3.1% in the 4th quarter. HighTower Advisors LLC now owns 166,827 shares of the utilities provider's stock valued at $14,095,000 after buying an additional 5,032 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Public Service Enterprise Group by 7.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 21,281 shares of the utilities provider's stock valued at $1,798,000 after buying an additional 1,435 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 sale, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. Guggenheim dropped their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Barclays decreased their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday. Finally, BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $89.38.

Public Service Enterprise Group Stock Up 0.4%

Shares of PEG traded up $0.36 during mid-day trading on Friday, hitting $82.52. 1,870,718 shares of the company's stock were exchanged, compared to its average volume of 2,771,431. The company has a market cap of $41.18 billion, a price-to-earnings ratio of 22.55, a P/E/G ratio of 2.94 and a beta of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $73.72 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The stock's 50-day moving average is $80.63 and its 200-day moving average is $82.17.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share 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. Shareholders of record on Monday, June 9th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was 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.