Apollon Wealth Management LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Apollon Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,100 shares of the utilities provider’s stock after purchasing an additional 387 shares during the period. Apollon Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $1,276,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PEG. CWM LLC raised its stake in Public Service Enterprise Group by 4.2% in the third quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock worth $1,932,000 after buying an additional 867 shares in the last quarter. Retirement Planning Group LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $333,000. Douglas Lane & Associates LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth $207,000. Harrell Investment Partners LLC lifted its stake in shares of Public Service Enterprise Group by 38.7% during the 3rd quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock worth $2,616,000 after purchasing an additional 8,182 shares during the last quarter. Finally, Creative Planning boosted its position in Public Service Enterprise Group by 5.2% during the third quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock valued at $8,537,000 after purchasing an additional 4,710 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.88 on Tuesday. Public Service Enterprise Group Incorporated has a 52-week low of $57.40 and a 52-week high of $95.22. 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 stock has a market cap of $41.79 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The business has a 50-day simple moving average of $85.93 and a 200-day simple moving average of $85.54.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.86%. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Five 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,712 shares of company stock valued at $317,644 in the last 90 days. 0.57% of the stock is currently owned by company insiders.

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.