Ledyard National Bank Has $289,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ledyard National Bank cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,425 shares of the utilities provider’s stock after selling 131 shares during the quarter. Ledyard National Bank’s holdings in Public Service Enterprise Group were worth $289,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Port Advisors grew its holdings in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after buying an additional 115 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA increased its holdings in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after buying an additional 123 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its stake in shares of Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

Shares of NYSE:PEG opened at $83.61 on Friday. 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 debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business’s 50-day moving average is $86.15 and its 200-day moving average is $85.35. The company has a market capitalization of $41.66 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,612 shares of company stock valued at $836,549 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PEG shares. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.