4,982 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,982 shares of the utilities provider's stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after purchasing an additional 877,345 shares during the period. Jennison Associates LLC raised its position in shares of Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock worth $134,006,000 after buying an additional 665,105 shares during the period. Raymond James & Associates raised its position in shares of Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after buying an additional 663,012 shares during the period. National Bank of Canada FI raised its position in shares of Public Service Enterprise Group by 376.3% in the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock worth $72,321,000 after buying an additional 640,485 shares during the period. Finally, Verition Fund Management LLC raised its position in Public Service Enterprise Group by 179.5% in the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock valued at $63,061,000 after purchasing an additional 453,985 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.04 during mid-day trading on Monday, reaching $83.50. 2,064,397 shares of the company's stock traded hands, compared to its average volume of 2,326,898. The business's 50-day moving average price is $86.97 and its 200-day moving average price is $85.24. The stock has a market capitalization of $41.60 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 12 month low of $57.24 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.87%. Public Service Enterprise Group's payout ratio is 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group 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 owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $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. Insiders have sold a total of 8,234 shares of company stock valued at $722,037 over the last quarter. Corporate insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PEG shares. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group raised their price objective on 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. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Finally, Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.83.

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.