Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,541 shares of the utilities provider’s stock after buying an additional 9,080 shares during the period. Kestra Private Wealth Services LLC’s holdings in Public Service Enterprise Group were worth $2,907,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Rockline Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC increased its holdings in Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the period. Jennison Associates LLC raised its position in Public Service Enterprise Group by 79.9% in the 4th quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after purchasing an additional 397,606 shares in the last quarter. International Assets Investment Management LLC raised its position in Public Service Enterprise Group by 5,613.8% in the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after purchasing an additional 169,425 shares in the last quarter. Finally, PATRIZIA Pty Ltd purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $5,158,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,948 shares of company stock valued at $511,814. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

Public Service Enterprise Group stock opened at $69.81 on Thursday. The stock has a 50-day simple moving average of $65.17 and a 200-day simple moving average of $62.48. The company has a market capitalization of $34.81 billion, a P/E ratio of 19.34, a PEG ratio of 3.02 and a beta of 0.56. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $70.46.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.19%. Public Service Enterprise Group’s quarterly revenue was down 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Evercore ISI increased their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, Bank of America raised their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.15.

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.