SYSTM Wealth Solutions LLC Sells 5,588 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

SYSTM Wealth Solutions LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,701 shares of the utilities provider’s stock after selling 5,588 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Public Service Enterprise Group were worth $2,410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at about $33,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at about $36,000. Salomon & Ludwin LLC grew 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 valued at $39,000 after buying an additional 560 shares during the last quarter. Finally, PFS Partners LLC grew its holdings in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $84.73 on Wednesday. The firm has a market cap of $42.21 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 3.03 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $85.11. The firm’s 50-day simple moving average is $79.19 and its two-hundred day simple moving average is $73.23.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the firm posted $0.70 EPS. The business’s revenue was up .1% on a year-over-year basis. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PEG shares. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Monday, June 17th. Jefferies Financial Group started coverage on shares of 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. Mizuho boosted their price target on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Insider Activity

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 shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’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 sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock valued at $2,406,965 over the last quarter. Company 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.