2,604 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Spectrum Wealth Advisory Group LLC

Spectrum Wealth Advisory Group LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,604 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Creative Planning lifted its position in shares of Public Service Enterprise Group by 5.2% during the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after buying an additional 4,710 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Public Service Enterprise Group by 6.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,519 shares of the utilities provider’s stock worth $6,023,000 after buying an additional 4,133 shares during the period. LexAurum Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $242,000. V Square Quantitative Management LLC lifted its position in shares of Public Service Enterprise Group by 6.9% during the 3rd quarter. V Square Quantitative Management LLC now owns 6,753 shares of the utilities provider’s stock worth $602,000 after buying an additional 437 shares during the period. Finally, Aspiriant LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at $227,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock valued at $317,644 over the last three months. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.0 %

NYSE PEG opened at $83.85 on Friday. The stock has a fifty day moving average of $85.18 and a 200-day moving average of $85.69. The stock has a market capitalization of $41.78 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 52 week low of $58.96 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PEG shares. BMO Capital Markets lifted 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. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays downgraded 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 research report on Monday, January 27th. Scotiabank lifted their price objective 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 reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Company 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.