Kentucky Retirement Systems Insurance Trust Fund Acquires 3,165 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,914 shares of the utilities provider’s stock after purchasing an additional 3,165 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Public Service Enterprise Group were worth $1,514,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PEG. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the third quarter worth $35,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the fourth quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the third quarter valued at $48,000. Stonebridge Financial Group LLC bought a new position in Public Service Enterprise Group during the fourth quarter valued at $54,000. Finally, Financial Life Planners bought a new position in Public Service Enterprise Group during the fourth quarter valued at $56,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment 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 MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by insiders.

Public Service Enterprise Group Stock Up 1.4 %

NYSE:PEG opened at $84.83 on Wednesday. Public Service Enterprise Group Incorporated has a 1-year low of $59.29 and a 1-year high of $95.22. The company has a 50-day moving average of $85.07 and a 200 day moving average of $85.85. The firm has a market cap of $42.26 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 2.97%. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

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.