Signature Wealth Management Partners LLC Has $729,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Signature Wealth Management Partners LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,174 shares of the utilities provider’s stock after selling 620 shares during the quarter. Signature Wealth Management Partners LLC’s holdings in Public Service Enterprise Group were worth $729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Public Service Enterprise Group during the 2nd quarter worth $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the second quarter worth $35,000. Salomon & Ludwin LLC grew its holdings in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 560 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Up 0.9 %

PEG opened at $90.42 on Tuesday. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The company’s 50-day moving average price is $85.88 and its two-hundred day moving average price is $78.09. The stock has a market cap of $45.04 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 2.73 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on PEG. Bank of America raised their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets boosted 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 report on Monday, October 21st. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. UBS Group boosted their price objective on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $87.15.

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.