Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Callan Family Office LLC

Callan Family Office LLC cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,718 shares of the utilities provider’s stock after selling 1,198 shares during the quarter. Callan Family Office LLC’s holdings in Public Service Enterprise Group were worth $553,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Transce3nd LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth about $32,000. Finally, Optiver Holding B.V. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $87.64 on Thursday. The company has a market cap of $43.74 billion, a PE ratio of 22.13, a P/E/G ratio of 3.06 and a beta of 0.45. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a 50-day simple moving average of $83.98 and a 200 day simple moving average of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%. Public Service Enterprise Group’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 2.9%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th. Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. Finally, Evercore ISI cut their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.95.

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.