Hantz Financial Services Inc. Sells 2,150 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Hantz Financial Services Inc. trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,392 shares of the utilities provider’s stock after selling 2,150 shares during the quarter. Hantz Financial Services Inc.’s holdings in Public Service Enterprise Group were worth $5,298,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEG. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $35,000. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $52,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,739 shares of company stock worth $2,467,753 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $94.31 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a 50-day simple moving average of $89.31 and a two-hundred day simple moving average of $81.33. The stock has a market cap of $46.99 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

About Public Service Enterprise Group

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.