IVC Wealth Advisors LLC Has $1.02 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

IVC Wealth Advisors LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,415 shares of the utilities provider’s stock after selling 1,499 shares during the period. IVC Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group in 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 approximately $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. Salomon & Ludwin LLC lifted 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 period. Finally, Country Trust Bank bought a new stake in shares of Public Service Enterprise Group in the second quarter worth $52,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. BMO Capital Markets raised their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Bank of America raised their price objective on 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. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Finally, UBS Group boosted their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group Stock Down 1.0 %

Shares of NYSE PEG opened at $89.63 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a market cap of $44.64 billion, a PE ratio of 24.83, a P/E/G ratio of 2.71 and a beta of 0.61. The company’s fifty day simple moving average is $85.69 and its 200 day simple moving average is $77.92. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 $12,014,095.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,010 shares of company stock worth $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company 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.