Newman Dignan & Sheerar Inc. Sells 718 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Newman Dignan & Sheerar Inc. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,490 shares of the utilities provider’s stock after selling 718 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in Public Service Enterprise Group were worth $548,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. WASHINGTON TRUST Co raised its position in shares of Public Service Enterprise Group by 60.2% during the fourth quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider’s stock valued at $89,000 after buying an additional 396 shares during the last quarter. Center for Financial Planning Inc. raised its position in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after buying an additional 120 shares during the last quarter. Consolidated Planning Corp raised its position in shares of Public Service Enterprise Group by 25.9% during the fourth quarter. Consolidated Planning Corp now owns 5,593 shares of the utilities provider’s stock valued at $473,000 after buying an additional 1,149 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its position in shares of Public Service Enterprise Group by 3.6% during the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 22,999 shares of the utilities provider’s stock valued at $1,943,000 after buying an additional 794 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $875,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of 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. Scotiabank boosted their price target on shares of 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. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, UBS Group boosted their price target on shares of 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. Five 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’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale 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 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 directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents 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 sold 3,712 shares of company stock valued at $317,644. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Down 0.0 %

NYSE PEG opened at $83.85 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $85.18 and a two-hundred day moving average of $85.69. The firm has a market capitalization of $41.78 billion, a price-to-earnings ratio of 20.60, a PEG 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.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is a positive change 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%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is currently 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.