Corient Private Wealth LLC Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Corient Private Wealth LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 175,278 shares of the utilities provider's stock after selling 73,132 shares during the quarter. Corient Private Wealth LLC's holdings in Public Service Enterprise Group were worth $14,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Empowered Funds LLC grew its holdings in shares of Public Service Enterprise Group by 7.7% during the third quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider's stock worth $746,000 after buying an additional 597 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth $293,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth $2,258,000. Premier Fund Managers Ltd grew its holdings in shares of Public Service Enterprise Group by 8.3% during the third quarter. Premier Fund Managers Ltd now owns 32,500 shares of the utilities provider's stock worth $2,868,000 after buying an additional 2,500 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth $2,498,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a report on Wednesday. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Friday, March 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.65.

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Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Trading Down 0.4 %

NYSE PEG traded down $0.30 during trading hours on Friday, reaching $83.00. The company had a trading volume of 5,339,712 shares, compared to its average volume of 2,548,848. The stock has a 50-day moving average of $83.50 and a 200 day moving average of $86.06. Public Service Enterprise Group Incorporated has a 1-year low of $64.03 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 stock has a market capitalization of $41.38 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Public Service Enterprise Group's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

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.