Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,500 shares of the utilities provider’s stock after selling 6,172 shares during the period. Asset Management One Co. Ltd. owned 0.06% of Public Service Enterprise Group worth $26,030,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group during the third quarter worth approximately $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $48,000. Stonebridge Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $54,000. Finally, Financial Life Planners purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $56,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. BMO Capital Markets upped 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 note on Monday, October 21st. UBS Group upped their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Scotiabank upped 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 note on Thursday, December 12th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. 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. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

PEG opened at $83.85 on Friday. The stock has a market cap of $41.78 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock’s 50 day simple moving average is $85.31 and its 200 day simple moving average is $85.64. Public Service Enterprise Group Incorporated has a 1-year low of $58.96 and a 1-year high of $95.22.

Public Service Enterprise Group Increases Dividend

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

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction 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 sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group 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.