Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,100 shares of the utilities provider’s stock after acquiring an additional 387 shares during the quarter. Apollon Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clarity Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $803,000. Golden State Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $581,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Public Service Enterprise Group by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,149,597 shares of the utilities provider’s stock valued at $97,129,000 after buying an additional 21,164 shares during the last quarter. Centennial Wealth Advisory LLC raised its position in shares of Public Service Enterprise Group by 6.4% in the fourth quarter. Centennial Wealth Advisory LLC now owns 6,773 shares of the utilities provider’s stock valued at $572,000 after buying an additional 406 shares during the last quarter. Finally, Choreo LLC lifted its stake in shares of Public Service Enterprise Group by 71.4% in the fourth quarter. Choreo LLC now owns 41,643 shares of the utilities provider’s stock worth $3,535,000 after buying an additional 17,352 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PEG. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a 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 company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

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

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $83.88 on Tuesday. The company’s 50 day simple moving average is $85.93 and its 200-day simple moving average is $85.54. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 1 year low of $57.40 and a 1 year high of $95.22. The company has a market capitalization of $41.79 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Dividend Announcement

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

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.