SG Americas Securities LLC lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 96.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,398 shares of the utilities provider’s stock after selling 91,361 shares during the quarter. SG Americas Securities LLC’s holdings in Public Service Enterprise Group were worth $157,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vantage Investment Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 700 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 6.0% during the second quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 157 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 202 shares during the period. YorkBridge Wealth Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 13.8% during the second quarter. YorkBridge Wealth Partners LLC now owns 3,489 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 424 shares during the period. Finally, Paradigm Asset Management Co. LLC lifted its holdings in shares of Public Service Enterprise Group by 217.4% during the second quarter. Paradigm Asset Management Co. LLC now owns 3,650 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 2,500 shares during the period. 66.65% of the stock is currently owned by hedge funds and other institutional investors.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the sale, the chairman now directly owns 687,600 shares of the company’s stock, valued at $36,374,040. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Ralph A. Larossa sold 33,000 shares of Public Service Enterprise Group stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the completion of the sale, the chief operating officer now directly owns 81,241 shares of the company’s stock, valued at $4,071,798.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,951 shares of company stock worth $13,045,041. 0.61% of the stock is owned by company insiders.

Public Service Enterprise Group Incorporated (PEG) opened at $50.96 on Wednesday. The stock has a market cap of $25,843.40, a price-to-earnings ratio of 49.48, a P/E/G ratio of 6.35 and a beta of 0.41. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a fifty-two week low of $41.67 and a fifty-two week high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. Public Service Enterprise Group’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 EPS. equities analysts expect that Public Service Enterprise Group Incorporated will post 2.93 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 8th will be issued a $0.43 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.72 annualized dividend and a yield of 3.38%. Public Service Enterprise Group’s payout ratio is 166.99%.

PEG has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. JPMorgan Chase & Co. lifted their price target on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, September 14th. Royal Bank of Canada reiterated a “hold” rating and set a $47.00 price target on shares of Public Service Enterprise Group in a report on Tuesday, October 10th. Finally, Argus lifted their price target on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $50.81.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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