Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,800 shares of the utilities provider’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Public Service Enterprise Group were worth $2,264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEG. Creative Planning grew its holdings in Public Service Enterprise Group by 5.2% during the third quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after acquiring an additional 4,710 shares during the period. nVerses Capital LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $580,000. Smallwood Wealth Investment Management LLC grew its holdings in Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 115 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Public Service Enterprise Group by 6.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 67,519 shares of the utilities provider’s stock valued at $6,023,000 after purchasing an additional 4,133 shares during the last quarter. Finally, LexAurum Advisors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $242,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.85 on Friday. The business’s 50-day moving average price is $85.31 and its 200 day moving average price is $85.64. Public Service Enterprise Group Incorporated has a twelve month low of $58.96 and a twelve month high of $95.22. The company has a market capitalization of $41.78 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is an increase 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 dividend payout ratio is 58.97%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated 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 in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction dated 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 owns 70,011 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEG has been the topic of several research reports. BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.