Wealth Quarterback LLC Sells 339 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Wealth Quarterback LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,468 shares of the utilities provider’s stock after selling 339 shares during the period. Wealth Quarterback LLC’s holdings in Public Service Enterprise Group were worth $884,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the third quarter worth $48,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the 4th quarter valued at $54,000. Finally, Financial Life Planners bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $56,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,712 shares of company stock valued at $317,644. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PEG. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued 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 $88.83.

Public Service Enterprise Group Stock Down 0.0 %

NYSE:PEG opened at $83.85 on Monday. The company has a market cap of $41.78 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The stock’s fifty day moving average price is $85.18 and its two-hundred day moving average price is $85.78. Public Service Enterprise Group Incorporated has a 52-week low of $58.96 and a 52-week high of $95.22.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.