V Square Quantitative Management LLC Reduces Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

V Square Quantitative Management LLC lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,446 shares of the utilities provider’s stock after selling 307 shares during the quarter. V Square Quantitative Management LLC’s holdings in Public Service Enterprise Group were worth $545,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PEG. Foundations Investment Advisors LLC raised its position in Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $8,244,000. Cullen Investment Group LTD. raised its position in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth $2,565,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % 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, COO Kim C. Hanemann sold 956 shares of the business’s 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 sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Down 0.0 %

Public Service Enterprise Group stock opened at $83.85 on Friday. 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 business’s 50-day simple moving average is $85.18 and its two-hundred day simple moving average is $85.69. The company has a market cap of $41.78 billion, a PE ratio of 20.60, a PEG ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $58.96 and a fifty-two week high of $95.22.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a 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 payout ratio is presently 58.97%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. UBS Group boosted 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. Scotiabank boosted their price target 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 reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets boosted 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. Finally, Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

About Public Service Enterprise Group

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.