Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Cassaday & Co Wealth Management LLC

Cassaday & Co Wealth Management LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,286 shares of the utilities provider’s stock after selling 1,500 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $447,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $35,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $35,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $54,000. Financial Life Planners purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter worth about $57,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the 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 of the company’s stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group lifted their price target 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. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.83.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.82 on Friday. The company has a market cap of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.82 and a beta of 0.64. Public Service Enterprise Group Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The company’s 50-day moving average price is $84.99 and its 200-day moving average price is $85.89. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 3.01%. This is a positive change 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 dividend payout ratio (DPR) is 58.97%.

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.