Atria Wealth Solutions Inc. Acquires 2,963 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Atria Wealth Solutions Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.9% during the 4th quarter, HoldingsChannel reports. The firm owned 20,490 shares of the utilities provider’s stock after purchasing an additional 2,963 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Public Service Enterprise Group were worth $1,731,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter worth $56,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth $57,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research reports. Scotiabank boosted their price objective 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. UBS Group boosted their price objective 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. Barclays lowered 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 report on Monday, January 27th. Finally, Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Trading Down 1.0 %

NYSE PEG opened at $83.82 on Friday. The firm has a market capitalization of $41.76 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $84.99 and its two-hundred day moving average price is $85.94. Public Service Enterprise Group Incorporated has a 12 month low of $59.29 and a 12 month high of $95.22.

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 represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s payout ratio is currently 61.92%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by company insiders.

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.