Personal CFO Solutions LLC Cuts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Personal CFO Solutions LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,290 shares of the utilities provider’s stock after selling 1,100 shares during the quarter. Personal CFO Solutions LLC’s holdings in Public Service Enterprise Group were worth $869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Amundi grew its holdings in Public Service Enterprise Group by 8.9% during the 4th quarter. Amundi now owns 2,689,546 shares of the utilities provider’s stock valued at $229,364,000 after buying an additional 219,827 shares in the last quarter. Larson Financial Group LLC grew its holdings in Public Service Enterprise Group by 10.1% during the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after buying an additional 139 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $2,472,000. Andra AP fonden grew its holdings in Public Service Enterprise Group by 2.3% during the 4th quarter. Andra AP fonden now owns 227,400 shares of the utilities provider’s stock valued at $19,213,000 after buying an additional 5,200 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in Public Service Enterprise Group by 106.7% during the 4th quarter. Edgestream Partners L.P. now owns 8,625 shares of the utilities provider’s stock valued at $729,000 after buying an additional 4,453 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 1.1 %

NYSE:PEG opened at $79.10 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The stock has a fifty day simple moving average of $84.27 and a 200-day simple moving average of $86.03. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 71.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Wednesday. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $89.83.

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.