SYSTM Wealth Solutions LLC Sells 5,588 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

SYSTM Wealth Solutions LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,701 shares of the utilities provider’s stock after selling 5,588 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Public Service Enterprise Group were worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Norges Bank purchased a new position in Public Service Enterprise Group in the 4th quarter worth approximately $215,074,000. Raymond James & Associates grew its stake in Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares in the last quarter. Reaves W H & Co. Inc. grew its stake in Public Service Enterprise Group by 73.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after buying an additional 667,773 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock worth $59,023,000 after buying an additional 634,587 shares in the last quarter. Finally, Cohen & Steers Inc. grew its stake in Public Service Enterprise Group by 23.6% in the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after buying an additional 455,693 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.0 %

Shares of PEG opened at $84.73 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $85.11. The stock has a market capitalization of $42.21 billion, a P/E ratio of 23.47, a PEG ratio of 3.03 and a beta of 0.60. The firm has a fifty day simple moving average of $79.19 and a two-hundred day simple moving average of $73.23.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.83%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Barclays upped their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Finally, Mizuho upped their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $77.92.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,068 shares of company stock worth $2,406,965. 0.57% of the stock is currently owned by corporate 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.