Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 306,500 shares of the utilities provider’s stock after selling 6,172 shares during the period. Asset Management One Co. Ltd.’s holdings in Public Service Enterprise Group were worth $26,030,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PEG. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $48,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $54,000. Finally, Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Scotiabank increased 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. Barclays lowered 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 report on Monday, January 27th. BMO Capital Markets increased their target price 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. Finally, UBS Group increased their target price 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was 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. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value 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. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,712 shares of company stock valued at $317,644. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Down 0.0 %

NYSE:PEG opened at $83.85 on Friday. The business’s 50-day moving average is $85.31 and its two-hundred day moving average is $85.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $58.96 and a 12 month high of $95.22. The firm has a market capitalization of $41.78 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 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.