Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,663 shares of the utilities provider’s stock after buying an additional 1,483 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Public Service Enterprise Group were worth $732,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. FMR LLC increased its position in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares during the period. Raymond James & Associates increased its position in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after acquiring an additional 663,012 shares during the period. National Bank of Canada FI raised its stake in Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock valued at $72,321,000 after acquiring an additional 640,485 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in Public Service Enterprise Group by 179.5% during the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock worth $63,061,000 after acquiring an additional 453,985 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,612 shares of company stock worth $836,549. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PEG has been the topic of a number of recent research reports. UBS Group boosted their target price 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. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Price Performance

PEG stock opened at $83.61 on Friday. The firm has a 50 day moving average of $85.93 and a 200-day moving average of $85.41. The company has a market cap of $41.66 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $57.40 and a 12-month high of $95.22.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. Public Service Enterprise Group’s payout ratio is 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.