Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,905 shares of the utilities provider’s stock after selling 452 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Public Service Enterprise Group were worth $2,442,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEG. Foundations Investment Advisors LLC boosted its position in shares of 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 shares of Public Service Enterprise Group during the 3rd quarter worth $8,244,000. Cullen Investment Group LTD. grew its holdings in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new stake in shares of Public Service Enterprise Group during the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $2,565,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 956 shares of the company’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 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 is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on 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 owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,712 shares of company stock valued at $317,644. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PEG shares. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets upped their target price on 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 price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Trading Down 0.2 %

Public Service Enterprise Group stock opened at $83.75 on Wednesday. The business’s 50-day simple moving average is $85.77 and its 200-day simple moving average is $85.61. Public Service Enterprise Group Incorporated has a 52 week low of $57.40 and a 52 week high of $95.22. The firm has a market capitalization of $41.73 billion, a PE ratio of 20.58, a PEG ratio of 2.77 and a beta of 0.64. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is currently 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.