International Assets Investment Management LLC Sells 168,229 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

International Assets Investment Management LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 97.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,214 shares of the utilities provider’s stock after selling 168,229 shares during the period. International Assets Investment Management LLC’s holdings in Public Service Enterprise Group were worth $281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addison Advisors LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $31,000. Operose Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 435.0% during the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after buying an additional 435 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $36,000. Anchor Investment Management LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $37,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $41,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 1.6 %

PEG opened at $73.57 on Wednesday. The company’s 50-day moving average price is $72.21 and its two-hundred day moving average price is $65.59. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.82. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. The stock has a market cap of $36.64 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 3.10 and a beta of 0.59.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.48%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PEG shares. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Barclays lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Guggenheim upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. Scotiabank cut their price target on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.50.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,948 shares of company stock valued at $199,910 over the last quarter. Company insiders own 0.18% of the company’s stock.

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.