CBIZ Investment Advisory Services LLC Has $82,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

CBIZ Investment Advisory Services LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 974 shares of the utilities provider’s stock after selling 145 shares during the quarter. CBIZ Investment Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $82,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $35,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $39,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Financial Life Planners bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

Shares of Public Service Enterprise Group stock opened at $81.59 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $63.31 and a 1 year high of $95.22. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a fifty day simple moving average of $83.74 and a two-hundred day simple moving average of $85.98. 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 posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for 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 revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Research analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Wells Fargo & Company reduced their price target 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. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

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.