Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 92.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,255 shares of the utilities provider’s stock after selling 14,780 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC increased its position in shares of 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. Jennison Associates LLC increased its position in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after acquiring an additional 1,882,667 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after acquiring an additional 19,650 shares during the period. Finally, Raymond James & Associates grew its position in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.3 %

Public Service Enterprise Group stock opened at $83.88 on Tuesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. 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 firm has a 50 day moving average price of $85.93 and a 200 day moving average price of $85.54. The company has a market capitalization of $41.79 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,712 shares of company stock worth $317,644. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PEG. BMO Capital Markets increased their price target on 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Wells Fargo & Company increased their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Five equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.