Symphony Financial Ltd. Co. Sells 10,868 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Symphony Financial Ltd. Co. lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 65.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,621 shares of the utilities provider's stock after selling 10,868 shares during the period. Symphony Financial Ltd. Co.'s holdings in Public Service Enterprise Group were worth $456,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Sowell Financial Services LLC acquired a new stake in Public Service Enterprise Group during the first quarter valued at approximately $298,000. Exchange Traded Concepts LLC grew its position in Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after buying an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after buying an additional 3,601 shares in the last quarter. Ninepoint Partners LP increased its holdings in shares of Public Service Enterprise Group by 14.1% in the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider's stock valued at $1,249,000 after buying an additional 1,830 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Public Service Enterprise Group by 15.8% during the 1st quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider's stock valued at $975,000 after acquiring an additional 1,618 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.8%

NYSE PEG traded up $0.68 on Friday, reaching $83.71. The stock had a trading volume of 2,755,999 shares, compared to its average volume of 2,795,983. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 1 year low of $73.00 and a 1 year high of $95.22. The business has a 50 day moving average price of $80.33 and a 200 day moving average price of $82.39. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 2.97 and a beta of 0.48.

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 (EPS) for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm's revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. On average, 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent research reports. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Bank of America decreased their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. Finally, Guggenheim lowered their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One 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.com, Public Service Enterprise Group presently has an average rating of "Hold" and an average price target of $89.54.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares in the company, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.