Strategic Investment Solutions Inc. IL Makes New $101,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Strategic Investment Solutions Inc. IL purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,316 shares of the utilities provider’s stock, valued at approximately $101,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after buying an additional 131 shares during the period. Bryn Mawr Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after purchasing an additional 135 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in Public Service Enterprise Group by 4.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 153 shares during the period. Evergreen Wealth Solutions LLC lifted its position in Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after purchasing an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC grew its holdings in Public Service Enterprise Group by 2.7% during the second quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock valued at $441,000 after purchasing an additional 160 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 completion of the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,446 shares of company stock valued at $2,531,260. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent research reports. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. UBS Group increased their price objective on shares of 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. Royal Bank of Canada lifted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Finally, 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 research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.46.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $91.03 on Thursday. 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 $91.20. The business has a 50 day simple moving average of $81.91 and a two-hundred day simple moving average of $74.97. The stock has a market capitalization of $45.35 billion, a PE ratio of 25.22, a P/E/G ratio of 3.22 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Public Service Enterprise Group Company 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.