Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,433 shares of the utilities provider’s stock after acquiring an additional 1,453 shares during the quarter. Advisors Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PEG. Price T Rowe Associates Inc. MD increased its stake in Public Service Enterprise Group by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 678,836 shares of the utilities provider’s stock valued at $45,333,000 after buying an additional 4,941 shares during the period. Bayesian Capital Management LP raised its holdings in Public Service Enterprise Group by 20.4% during the first quarter. Bayesian Capital Management LP now owns 11,804 shares of the utilities provider’s stock worth $788,000 after purchasing an additional 2,000 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Public Service Enterprise Group by 7.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 36,490 shares of the utilities provider’s stock worth $2,437,000 after purchasing an additional 2,522 shares during the period. Tidal Investments LLC boosted its stake in Public Service Enterprise Group by 14.5% during the 1st quarter. Tidal Investments LLC now owns 22,598 shares of the utilities provider’s stock valued at $1,509,000 after purchasing an additional 2,866 shares in the last quarter. Finally, First Western Trust Bank acquired a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $211,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $94.51 on Wednesday. The company has a market capitalization of $47.09 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 3.39 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $94.67. 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 stock’s fifty day simple moving average is $88.74 and its 200-day simple moving average is $81.01.

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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.54%. Public Service Enterprise Group’s payout ratio is 58.97%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PEG. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. 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 report on Tuesday, November 5th. 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 report on Thursday, August 29th. Finally, Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’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 value of $111,190.82. Following the completion of 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 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,739 shares of company stock valued at $2,467,753 in the last quarter. Company insiders own 0.57% of the company’s stock.

About Public Service Enterprise Group

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.