Apexium Financial LP Has $6.08 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Apexium Financial LP grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,977 shares of the utilities provider’s stock after buying an additional 2,000 shares during the period. Apexium Financial LP’s holdings in Public Service Enterprise Group were worth $6,083,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PEG. Blue Trust Inc. raised its holdings in Public Service Enterprise Group by 10.8% in the 4th quarter. Blue Trust Inc. now owns 14,505 shares of the utilities provider’s stock worth $1,294,000 after acquiring an additional 1,409 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $421,000. Harrell Investment Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 4.0% during the fourth quarter. Harrell Investment Partners LLC now owns 30,494 shares of the utilities provider’s stock worth $2,576,000 after buying an additional 1,175 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of Public Service Enterprise Group by 2.2% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 9,892 shares of the utilities provider’s stock valued at $836,000 after acquiring an additional 210 shares during the period. Finally, Patton Albertson Miller Group LLC grew its stake in shares of Public Service Enterprise Group by 2.7% in the fourth quarter. Patton Albertson Miller Group LLC now owns 83,544 shares of the utilities provider’s stock worth $7,059,000 after acquiring an additional 2,192 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 over the last 90 days. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PEG. Wells Fargo & Company boosted their price objective 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. BMO Capital Markets upped 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. Scotiabank lifted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Public Service Enterprise Group Trading Down 0.1 %

PEG stock opened at $88.04 on Monday. The business has a fifty day moving average price of $87.80 and a 200 day moving average price of $84.93. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.91 and a fifty-two week high of $95.22. The stock has a market capitalization of $43.86 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 2.82 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.