Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,426 shares of the utilities provider’s stock after selling 308 shares during the quarter. Marcum Wealth LLC’s holdings in Public Service Enterprise Group were worth $306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC boosted its holdings in shares of Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $41,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 in the last quarter. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $88.70 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a market capitalization of $44.19 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.72 and a beta of 0.61. The business has a 50-day moving average of $83.30 and a 200-day moving average of $75.91.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. Public Service Enterprise Group’s dividend payout ratio is currently 72.73%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. BMO Capital Markets increased their target price on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Scotiabank lifted their price target on shares of 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. Finally, UBS Group upped their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.62.

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.