First Horizon Advisors Inc. Sells 525 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

First Horizon Advisors Inc. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,742 shares of the utilities provider’s stock after selling 525 shares during the quarter. First Horizon Advisors Inc. owned about 0.08% of Public Service Enterprise Group worth $23,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Rockline Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth $1,185,000. Allspring Global Investments Holdings LLC raised its stake in shares of Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock valued at $25,397,000 after acquiring an additional 17,838 shares during the period. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after acquiring an additional 397,606 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after acquiring an additional 169,425 shares during the last quarter. Finally, PATRIZIA Pty Ltd bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $5,158,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Bank of America upped their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company raised their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.15.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,948 shares of company stock worth $511,814. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.02 during mid-day trading on Thursday, hitting $69.79. 1,214,056 shares of the company were exchanged, compared to its average volume of 2,872,086. The stock has a market cap of $34.80 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 3.02 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $70.46. The company has a 50 day moving average of $65.17 and a 200-day moving average of $62.48. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.19% and a net margin of 17.65%. Public Service Enterprise Group’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.39 earnings per share. Analysts expect that Public Service Enterprise Group Incorporated will post 3.66 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 Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

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.