Arkadios Wealth Advisors Has $481,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Arkadios Wealth Advisors cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,392 shares of the utilities provider’s stock after selling 145 shares during the quarter. Arkadios Wealth Advisors’ holdings in Public Service Enterprise Group were worth $481,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Forsta AP Fonden grew its holdings in Public Service Enterprise Group by 0.9% during the 3rd quarter. Forsta AP Fonden now owns 207,700 shares of the utilities provider’s stock worth $18,529,000 after acquiring an additional 1,900 shares during the period. Burford Brothers Inc. boosted its position in shares of Public Service Enterprise Group by 3.0% during the 3rd quarter. Burford Brothers Inc. now owns 10,363 shares of the utilities provider’s stock valued at $925,000 after purchasing an additional 305 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $238,000. Silver Oak Securities Incorporated bought a new stake in Public Service Enterprise Group in the third quarter worth approximately $569,000. Finally, Moody Lynn & Lieberson LLC increased its holdings in Public Service Enterprise Group by 50.3% in the third quarter. Moody Lynn & Lieberson LLC now owns 9,682 shares of the utilities provider’s stock worth $864,000 after purchasing an additional 3,239 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 in the last 90 days. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PEG. Bank of America increased their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $88.16 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock has a market cap of $43.92 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61. The stock’s fifty day simple moving average is $86.04 and its two-hundred day simple moving average is $78.25. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

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.