Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Leo Wealth LLC

Leo Wealth LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.7% in the fourth quarter, Holdings Channel reports. The firm owned 12,910 shares of the utilities provider’s stock after selling 5,725 shares during the period. Leo Wealth LLC’s holdings in Public Service Enterprise Group were worth $1,091,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $48,000. Financial Life Planners purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $56,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $59,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $57,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,612 shares of company stock valued at $836,549 in the last quarter. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEG shares. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. UBS Group lifted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Finally, Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.93 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $57.40 and a 52 week 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 firm has a market cap of $41.81 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.67 and a beta of 0.64. The stock has a 50 day moving average of $86.35 and a 200-day moving average of $85.36.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Public Service Enterprise Group Company 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.