Executive Wealth Management LLC Grows Stock Holdings in Public Service Enterprise Group Inc. (NYSE:PEG)

Executive Wealth Management LLC raised its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 137.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 781 shares of the utilities provider’s stock after buying an additional 452 shares during the period. Executive Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation N.A. acquired a new stake in Public Service Enterprise Group in the first quarter valued at $25,000. Berman Capital Advisors LLC increased its position in shares of Public Service Enterprise Group by 79.0% during the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 203 shares in the last quarter. Thor Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $45,000. Icon Wealth Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $58,000. Finally, Weaver Consulting Group acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $69,000. Institutional investors and hedge funds own 68.78% of the company’s stock.

A number of analysts have recently commented on PEG shares. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays started coverage on Public Service Enterprise Group in a research report on Tuesday. They set an “overweight” rating and a $63.00 target price on the stock. UBS Group set a $67.00 target price on Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Bank of America cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Friday, July 19th. Finally, Mizuho lifted their target price on Public Service Enterprise Group from $61.50 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and an average target price of $62.46.

Shares of PEG opened at $57.76 on Friday. Public Service Enterprise Group Inc. has a twelve month low of $49.22 and a twelve month high of $61.63. The stock’s 50 day moving average is $58.91 and its two-hundred day moving average is $58.91. The firm has a market capitalization of $29.14 billion, a PE ratio of 18.51, a P/E/G ratio of 7.84 and a beta of 0.33. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same period in the prior year, the firm posted $0.64 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.26%.

In other news, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $58.80, for a total transaction of $97,020.00. Following the sale, the chief operating officer now owns 85,068 shares of the company’s stock, valued at approximately $5,001,998.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel J. Cregg sold 625 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $60.92, for a total value of $38,075.00. Following the sale, the vice president now directly owns 60,833 shares in the company, valued at approximately $3,705,946.36. The disclosure for this sale can be found here. Insiders have sold a total of 163,421 shares of company stock worth $9,493,650 in the last three months. Corporate insiders own 0.51% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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