Strategic Investment Advisors MI Cuts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Strategic Investment Advisors MI lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,596 shares of the utilities provider’s stock after selling 195 shares during the quarter. Strategic Investment Advisors MI’s holdings in Public Service Enterprise Group were worth $1,487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Old Port Advisors grew its holdings in Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares in the last quarter. First Commonwealth Financial Corp PA increased its holdings in Public Service Enterprise Group by 1.3% in the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after buying an additional 123 shares during the last quarter. Cigna Investments Inc. New raised its stake in Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after buying an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. lifted its holdings in Public Service Enterprise Group by 0.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after buying an additional 127 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 in the last three months. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays dropped their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Public Service Enterprise Group Trading Down 0.1 %

Shares of PEG stock opened at $88.04 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $56.91 and a twelve month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $87.80 and its two-hundred day moving average is $84.93. The company has a market capitalization of $43.86 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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 company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Public Service Enterprise Group 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.