OneDigital Investment Advisors LLC Lowers Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

OneDigital Investment Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,377 shares of the utilities provider's stock after selling 5,005 shares during the period. OneDigital Investment Advisors LLC's holdings in Public Service Enterprise Group were worth $1,215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $25,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $39,000. Nemes Rush Group LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth approximately $53,000. Finally, Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley lifted their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim reissued a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets cut 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 research report on Thursday, April 10th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research note on Wednesday, March 19th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.35.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $2.14 during trading hours on Wednesday, reaching $79.48. 1,239,453 shares of the company's stock were exchanged, compared to its average volume of 2,716,375. 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's 50 day moving average is $81.46 and its two-hundred day moving average is $85.08. The company has a market cap of $39.62 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 1 year low of $66.57 and a 1 year high of $95.22.

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, hitting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the prior year, the company posted $1.31 EPS. The business's revenue for the quarter was up 16.7% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.17%. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

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.