Atria Wealth Solutions Inc. Has $1.12 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Atria Wealth Solutions Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,238 shares of the utilities provider’s stock after purchasing an additional 1,481 shares during the period. Atria Wealth Solutions Inc.’s holdings in Public Service Enterprise Group were worth $1,123,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. International Assets Investment Management LLC grew its holdings in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after purchasing an additional 169,425 shares during the period. CWM LLC grew its holdings in Public Service Enterprise Group by 21.8% during the fourth quarter. CWM LLC now owns 14,487 shares of the utilities provider’s stock worth $886,000 after purchasing an additional 2,594 shares during the period. Foster & Motley Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth about $249,000. GAMMA Investing LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $123,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in Public Service Enterprise Group by 14.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,250 shares of the utilities provider’s stock worth $627,000 after purchasing an additional 1,333 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PEG. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Mizuho upped their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley upped their target price on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

Public Service Enterprise Group Trading Down 0.1 %

Shares of NYSE:PEG opened at $81.04 on Friday. The business’s 50 day simple moving average is $76.54 and its 200 day simple moving average is $70.51. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 1 year low of $53.71 and a 1 year high of $81.89. The company has a market capitalization of $40.36 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.00 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share 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 business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

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.