Public Service Enterprise Group Inc. (NYSE:PEG) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. reduced its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,779 shares of the utilities provider’s stock after selling 385 shares during the quarter. Adirondack Trust Co.’s holdings in Public Service Enterprise Group were worth $110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Envestnet Asset Management Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 79,794 shares of the utilities provider’s stock valued at $4,741,000 after buying an additional 3,005 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $236,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Public Service Enterprise Group by 374.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,716 shares of the utilities provider’s stock valued at $102,000 after buying an additional 1,354 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $428,000. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Public Service Enterprise Group by 12.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,737,128 shares of the utilities provider’s stock valued at $103,202,000 after buying an additional 197,098 shares during the period. 69.37% of the stock is owned by institutional investors and hedge funds.

PEG stock remained flat at $$61.57 during midday trading on Wednesday. The company had a trading volume of 965,904 shares, compared to its average volume of 2,550,054. The stock’s fifty day moving average is $60.91 and its 200-day moving average is $59.76. The stock has a market capitalization of $31.49 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 6.39 and a beta of 0.30. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $62.60. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.59 and a current ratio of 0.79.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.04). The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. Public Service Enterprise Group had a return on equity of 11.02% and a net margin of 14.41%. During the same period in the prior year, the firm posted $0.64 earnings per share. Analysts predict that Public Service Enterprise Group Inc. will post 3.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.05%. The ex-dividend date was Friday, September 6th. Public Service Enterprise Group’s payout ratio is 60.26%.

Several equities analysts recently issued reports on PEG shares. Citigroup cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Monday, July 29th. ValuEngine cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Friday, July 19th. UBS Group lifted their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on Public Service Enterprise Group from $60.00 to $62.00 and gave the stock a “sector perform” rating in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.00.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $61.66, for a total transaction of $101,739.00. Following the completion of the transaction, the chief operating officer now owns 78,928 shares of the company’s stock, valued at $4,866,700.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $60.45, for a total value of $37,781.25. Following the transaction, the chief financial officer now directly owns 60,208 shares of the company’s stock, valued at approximately $3,639,573.60. The disclosure for this sale can be found here. Insiders have sold 61,408 shares of company stock valued at $3,535,381 in the last three months. 0.51% of the stock is currently owned by company insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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