Atria Wealth Solutions Inc. Has $1.73 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Atria Wealth Solutions Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,490 shares of the utilities provider’s stock after buying an additional 2,963 shares during the period. Atria Wealth Solutions Inc.’s holdings in Public Service Enterprise Group were worth $1,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PEG. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $56,000. Finally, Brown Lisle Cummings Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.82 on Friday. The stock has a market capitalization of $41.76 billion, a PE ratio of 20.59, a P/E/G ratio of 2.78 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 business has a fifty day moving average price of $84.99 and a two-hundred day moving average price of $85.94. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22.

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 issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s payout ratio is currently 61.92%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted 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. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank lifted 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. Finally, Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.