Crossmark Global Holdings Inc. Sells 1,268 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

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Crossmark Global Holdings Inc. reduced its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,691 shares of the utilities provider’s stock after selling 1,268 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Public Service Enterprise Group were worth $2,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PEG. Berman Capital Advisors LLC grew its stake in shares of Public Service Enterprise Group by 79.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 203 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $29,000. Thor Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $45,000. Executive Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 137.4% in the 2nd quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock valued at $46,000 after buying an additional 452 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its holdings in shares of Public Service Enterprise Group by 357.4% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock valued at $56,000 after buying an additional 747 shares during the last quarter. 69.37% of the stock is owned by institutional investors.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $57.15, for a total transaction of $94,297.50. Following the completion of the sale, the chief operating officer now owns 81,768 shares of the company’s stock, valued at approximately $4,673,041.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $60.45, for a total value of $37,781.25. Following the sale, 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 a total of 61,408 shares of company stock valued at $3,535,381 in the last ninety days. Insiders own 0.51% of the company’s stock.

Several equities research analysts have recently commented on PEG shares. Royal Bank of Canada increased their price objective on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Citigroup downgraded 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. UBS Group increased their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, September 6th. Mizuho increased their price objective on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.00.

NYSE PEG opened at $62.35 on Friday. The company has a market cap of $31.53 billion, a PE ratio of 19.98, a PEG ratio of 6.28 and a beta of 0.30. The company has a current ratio of 0.79, a quick ratio of 0.59 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a 12 month low of $49.22 and a 12 month high of $63.88. The stock has a 50 day moving average of $61.04 and a 200-day moving average of $59.78.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results 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). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the business earned $0.64 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.23 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio is 60.26%.

Public Service Enterprise Group 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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