Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,483 shares of the utilities provider’s stock after selling 4,355 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Public Service Enterprise Group worth $39,582,000 at the end of the most recent reporting period.

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

Public Service Enterprise Group Trading Down 0.0 %

Shares of Public Service Enterprise Group stock opened at $83.85 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $58.96 and a fifty-two week high of $95.22. The firm has a market cap of $41.78 billion, a PE ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. The business’s fifty day moving average is $85.31 and its two-hundred day moving average is $85.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. 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. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Scotiabank upped their price target on 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. Five investment 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. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the 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 completion of the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at $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 have sold a total of 3,712 shares of company stock valued at $317,644 in the last quarter. 0.57% of the stock is currently owned by company 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.