Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by WASHINGTON TRUST Co

WASHINGTON TRUST Co lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 60.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,054 shares of the utilities provider’s stock after acquiring an additional 396 shares during the period. WASHINGTON TRUST Co’s holdings in Public Service Enterprise Group were worth $89,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the third quarter worth approximately $48,000. Stonebridge Financial Group LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $54,000. Finally, Financial Life Planners acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % 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. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group lifted their price target 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. Scotiabank lifted 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, BMO Capital Markets boosted 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. 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Stock Down 0.0 %

Public Service Enterprise Group stock opened at $83.85 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 1-year low of $58.96 and a 1-year high of $95.22. The company has a market cap of $41.78 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The stock’s 50 day moving average price is $85.18 and its 200 day moving average price is $85.69.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a 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 presently 58.97%.

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.