Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Richardson Financial Services Inc.

Richardson Financial Services Inc. trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,190 shares of the utilities provider’s stock after selling 190 shares during the period. Richardson Financial Services Inc.’s holdings in Public Service Enterprise Group were worth $185,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PEG. NewEdge Advisors LLC grew its stake in shares of Public Service Enterprise Group by 22.1% during the 2nd quarter. NewEdge Advisors LLC now owns 27,559 shares of the utilities provider’s stock worth $2,031,000 after purchasing an additional 4,993 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Public Service Enterprise Group by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,682 shares of the utilities provider’s stock worth $2,114,000 after buying an additional 2,003 shares in the last quarter. Truist Financial Corp grew its position in Public Service Enterprise Group by 1.0% during the second quarter. Truist Financial Corp now owns 168,545 shares of the utilities provider’s stock valued at $12,422,000 after buying an additional 1,740 shares during the period. Cetera Investment Advisers increased its holdings in Public Service Enterprise Group by 4.0% in the second quarter. Cetera Investment Advisers now owns 125,717 shares of the utilities provider’s stock valued at $9,265,000 after buying an additional 4,837 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at $6,675,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 0.3 %

Shares of NYSE PEG opened at $83.57 on Friday. 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 company has a 50-day moving average of $86.97 and a 200 day moving average of $85.10. Public Service Enterprise Group Incorporated has a 12-month low of $57.24 and a 12-month high of $95.22. The stock has a market cap of $41.64 billion, a PE ratio of 20.53, a P/E/G ratio of 2.61 and a beta of 0.65.

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

Public Service Enterprise Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling

In related 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 completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’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 transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,234 shares of company stock valued at $722,037. 0.57% of the stock is currently owned by insiders.

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.