Ledyard National Bank Sells 131 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Ledyard National Bank reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,425 shares of the utilities provider’s stock after selling 131 shares during the quarter. Ledyard National Bank’s holdings in Public Service Enterprise Group were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Brookstone Capital Management increased its stake in Public Service Enterprise Group by 2.5% in the 3rd quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock valued at $683,000 after buying an additional 190 shares during the last quarter. CWM LLC grew its holdings in shares of Public Service Enterprise Group by 4.2% in the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock valued at $1,932,000 after acquiring an additional 867 shares in the last quarter. Wedmont Private Capital raised its holdings in Public Service Enterprise Group by 3.9% during the third quarter. Wedmont Private Capital now owns 5,463 shares of the utilities provider’s stock worth $492,000 after acquiring an additional 207 shares in the last quarter. Cypress Wealth Services LLC acquired a new position in Public Service Enterprise Group during the third quarter valued at approximately $228,000. Finally, Merrion Investment Management Co LLC grew its stake in Public Service Enterprise Group by 4.6% in the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider’s stock valued at $1,008,000 after purchasing an additional 500 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,612 shares of company stock worth $836,549 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $83.61 on Friday. 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 firm has a market cap of $41.66 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 2.67 and a beta of 0.64. The stock’s fifty day moving average price is $86.15 and its two-hundred day moving average price is $85.35. Public Service Enterprise Group Incorporated has a one year low of $57.40 and a one year high of $95.22.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of analyst reports. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. UBS Group increased their price target on shares of 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. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Barclays downgraded 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 research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

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.