4,584 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,584 shares of the utilities provider’s stock, valued at approximately $387,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Foundations Investment Advisors LLC lifted its stake in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the period. Cullen Investment Group LTD. lifted its position in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after purchasing an additional 10,610 shares during the period. Arvest Bank Trust Division bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at about $2,860,000. Parsons Capital Management Inc. RI purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $2,565,000. Finally, Czech National Bank grew its holdings in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock worth $9,127,000 after acquiring an additional 6,545 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEG. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Scotiabank raised 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 report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Bank of America reduced their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Barclays cut shares of 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 research note on Monday, January 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Public Service Enterprise Group Stock Up 1.1 %

Shares of Public Service Enterprise Group stock opened at $81.57 on Friday. The company has a market cap of $40.67 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 company’s 50 day moving average is $83.03 and its 200 day moving average is $86.10. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% 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.