Kentucky Retirement Systems Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 34,233 shares of the utilities provider’s stock after selling 472 shares during the period. Kentucky Retirement Systems’ holdings in Public Service Enterprise Group were worth $2,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,846 shares of the utilities provider’s stock valued at $1,770,000 after buying an additional 575 shares during the period. Signaturefd LLC raised its position in Public Service Enterprise Group by 3.9% during the third quarter. Signaturefd LLC now owns 7,292 shares of the utilities provider’s stock valued at $650,000 after acquiring an additional 273 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in Public Service Enterprise Group during the third quarter valued at approximately $312,000. International Assets Investment Management LLC lifted its holdings in Public Service Enterprise Group by 9,306.2% in the third quarter. International Assets Investment Management LLC now owns 404,938 shares of the utilities provider’s stock valued at $36,125,000 after acquiring an additional 400,633 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Public Service Enterprise Group by 132.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,240 shares of the utilities provider’s stock worth $9,835,000 after purchasing an additional 62,868 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 1.0 %

PEG stock opened at $83.82 on Friday. The business’s 50-day moving average is $84.99 and its 200 day moving average is $85.89. Public Service Enterprise Group Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22. The stock has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.82 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.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is presently 58.97%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PEG. 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 report on Wednesday, October 30th. 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 report on Monday, January 27th. Scotiabank raised their target price on 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now 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 SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

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.