IVC Wealth Advisors LLC Sells 1,499 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

IVC Wealth Advisors LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,415 shares of the utilities provider’s stock after selling 1,499 shares during the period. IVC Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heritage Wealth Management Inc. bought a new position in Public Service Enterprise Group in the second quarter valued at approximately $422,000. QRG Capital Management Inc. grew its stake in shares of Public Service Enterprise Group by 28.0% in the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock valued at $5,227,000 after buying an additional 15,505 shares in the last quarter. CWM LLC increased its holdings in Public Service Enterprise Group by 72.3% during the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after buying an additional 8,723 shares during the last quarter. Czech National Bank raised its position in Public Service Enterprise Group by 8.3% during the second quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after acquiring an additional 7,235 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Public Service Enterprise Group by 145.5% during the first quarter. SG Americas Securities LLC now owns 64,437 shares of the utilities provider’s stock worth $4,303,000 after acquiring an additional 38,188 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of 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. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Evercore ISI raised their price objective 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. UBS Group lifted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Finally, Barclays increased their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $89.63 on Monday. The company has a 50-day simple moving average of $85.69 and a two-hundred day simple moving average of $77.92. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The stock has a market capitalization of $44.64 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. 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 (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. 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 firm posted $0.70 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is owned by corporate insiders.

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.