Hartford Investment Management Co. Has $2.61 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hartford Investment Management Co. decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,931 shares of the utilities provider’s stock after selling 599 shares during the period. Hartford Investment Management Co.’s holdings in Public Service Enterprise Group were worth $2,613,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in shares of Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after buying an additional 1,882,667 shares during the last quarter. FMR LLC grew its position in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after buying an additional 877,345 shares during the period. Raymond James & Associates grew its position in shares of Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after buying an additional 663,012 shares during the period. National Bank of Canada FI grew its position in shares of Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider’s stock worth $72,321,000 after buying an additional 640,485 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Public Service Enterprise Group by 179.5% during the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock worth $63,061,000 after buying an additional 453,985 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.1 %

NYSE PEG opened at $83.82 on Thursday. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one 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 fifty day moving average is $85.62 and its 200-day moving average is $85.66.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. 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. Public Service Enterprise Group’s payout ratio is presently 58.97%.

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 that occurred 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 completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock valued at $317,644 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEG shares. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Scotiabank upped 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. Five 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.83.

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.