Private Advisor Group LLC Cuts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Private Advisor Group LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 82,413 shares of the utilities provider’s stock after selling 149 shares during the period. Private Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $6,963,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in 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. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $57,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group 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 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 approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Stock Down 1.0 %

Public Service Enterprise Group stock opened at $83.82 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The stock has a 50 day moving average of $84.99 and a two-hundred day moving average of $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. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.82 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed 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 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 dividend payout ratio (DPR) is presently 58.97%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays downgraded 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 increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on 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 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 company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $88.83.

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.