New York State Common Retirement Fund Sells 15,607 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,182 shares of the utilities provider’s stock after selling 15,607 shares during the quarter. New York State Common Retirement Fund’s holdings in Public Service Enterprise Group were worth $21,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group in the fourth quarter worth about $54,000. Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $57,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 1.0 %

NYSE PEG opened at $83.82 on Friday. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64. The company’s 50-day simple moving average is $84.99 and its two-hundred day simple moving average is $85.89.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.01%. This is a positive change 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 Ratings Changes

Several equities research analysts have recently weighed in on PEG shares. Barclays downgraded 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 report on Monday, January 27th. UBS Group lifted their target price on 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. Scotiabank boosted their target price on shares of 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, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five equities 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 stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group 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 transaction of $114,511.80. Following the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

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.