Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Key Client Fiduciary Advisors LLC

Key Client Fiduciary Advisors LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,166 shares of the utilities provider’s stock after selling 6,457 shares during the period. Public Service Enterprise Group makes up about 1.1% of Key Client Fiduciary Advisors LLC’s portfolio, making the stock its 20th biggest position. Key Client Fiduciary Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,014,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Public Service Enterprise Group by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after buying an additional 726,613 shares during the last quarter. Legal & General Group Plc grew its holdings in Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock worth $401,173,000 after acquiring an additional 87,974 shares during the period. Morgan Stanley raised its position in Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after acquiring an additional 221,071 shares in the last quarter. Finally, Norges Bank acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $215,074,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 2,948 shares of company stock worth $199,910 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PEG shares. Scotiabank cut their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Monday, June 17th. Barclays lifted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, BMO Capital Markets lowered their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.50.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $1.18 during mid-day trading on Tuesday, reaching $73.57. The company’s stock had a trading volume of 1,656,372 shares, compared to its average volume of 2,802,634. The stock has a market capitalization of $36.64 billion, a P/E ratio of 20.38, a P/E/G ratio of 3.03 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. Public Service Enterprise Group Incorporated has a 1-year low of $53.71 and a 1-year high of $75.82. The stock has a 50-day moving average of $72.21 and a two-hundred day moving average of $65.59.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.26%. Public Service Enterprise Group’s payout ratio is 66.48%.

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.