International Private Wealth Advisors LLC Decreases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

International Private Wealth Advisors LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,322 shares of the utilities provider’s stock after selling 402 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $475,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James & Associates boosted its holdings in 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 acquiring an additional 663,012 shares during the period. Hamlin Capital Management LLC boosted its holdings in Public Service Enterprise Group by 7.2% in the 3rd quarter. Hamlin Capital Management LLC now owns 2,427,336 shares of the utilities provider’s stock worth $216,543,000 after acquiring an additional 162,731 shares during the period. Hsbc Holdings PLC boosted its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares during the period. abrdn plc boosted its holdings in Public Service Enterprise Group by 10.2% in the 3rd quarter. abrdn plc now owns 1,792,186 shares of the utilities provider’s stock worth $159,074,000 after acquiring an additional 165,995 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Public Service Enterprise Group by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after purchasing an additional 163,333 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated 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 directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,783 shares of company stock valued at $2,381,626. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PEG. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Evercore ISI upped their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Scotiabank upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Stock Performance

PEG traded up $0.05 during trading on Thursday, reaching $87.06. 290,326 shares of the company were exchanged, compared to its average volume of 2,774,840. The stock has a market cap of $43.38 billion, a P/E ratio of 21.39, a PEG ratio of 3.17 and a beta of 0.61. The firm has a 50 day moving average of $87.20 and a 200 day moving average of $79.69. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued 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 return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

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.