Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Raab & Moskowitz Asset Management LLC

Raab & Moskowitz Asset Management LLC boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 22,999 shares of the utilities provider’s stock after acquiring an additional 794 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,943,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PEG. Geode Capital Management LLC boosted its position in Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after buying an additional 49,285 shares during the last quarter. FMR LLC lifted its stake in Public Service Enterprise Group by 19.4% during 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 boosted its holdings 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 last quarter. Finally, Raymond James & Associates increased its stake in shares of Public Service Enterprise Group by 30.1% in the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after acquiring an additional 663,012 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,712 shares of company stock valued at $317,644. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEG. UBS Group upped their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $83.82 on Thursday. The stock has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.77 and a beta of 0.64. The company’s fifty day moving average price is $85.62 and its 200 day moving average price is $85.66. 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.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend 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 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.