Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 98.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,257 shares of the utilities provider’s stock after selling 400,681 shares during the quarter. International Assets Investment Management LLC’s holdings in Public Service Enterprise Group were worth $362,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth $203,000. LPL Financial LLC boosted its stake in shares of Public Service Enterprise Group by 11.4% in the 2nd quarter. LPL Financial LLC now owns 502,446 shares of the utilities provider’s stock valued at $37,030,000 after purchasing an additional 51,478 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Public Service Enterprise Group by 0.9% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 110,046 shares of the utilities provider’s stock worth $8,110,000 after acquiring an additional 986 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in shares of Public Service Enterprise Group by 80.3% in the second quarter. Meeder Advisory Services Inc. now owns 12,696 shares of the utilities provider’s stock valued at $936,000 after purchasing an additional 5,656 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Public Service Enterprise Group by 4.3% in the second quarter. HBK Sorce Advisory LLC now owns 9,851 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 406 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $84.28 on Friday. The stock has a fifty day simple moving average of $87.44 and a two-hundred day simple moving average of $83.98. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. 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 firm has a market cap of $41.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

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.