Fifth Third Wealth Advisors LLC Purchases 242 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Fifth Third Wealth Advisors LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% during the 4th quarter, Holdings Channel reports. The firm owned 4,248 shares of the utilities provider’s stock after buying an additional 242 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $359,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $48,000. Legacy Investment Solutions LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth $59,000. Kimelman & Baird LLC bought a new stake in Public Service Enterprise Group in the second quarter valued at $66,000. Finally, Fortitude Family Office LLC increased its position in Public Service Enterprise Group by 325.0% during the 3rd quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 611 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $88.20 on Friday. The firm has a market cap of $43.94 billion, a PE ratio of 21.67, a P/E/G ratio of 2.81 and a beta of 0.65. The stock has a 50-day moving average price of $87.65 and a 200-day moving average price of $84.26. 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 debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.72%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,234 shares of company stock valued at $722,037. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Morgan Stanley lifted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.17.

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.