Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 92.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,255 shares of the utilities provider's stock after selling 14,780 shares during the period. Atlantic Edge Private Wealth Management LLC's holdings in Public Service Enterprise Group were worth $106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Old Port Advisors grew its holdings in Public Service Enterprise Group by 0.5% in the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock valued at $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC boosted its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock valued at $827,000 after acquiring an additional 115 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Public Service Enterprise Group by 2.4% during the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after acquiring an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA boosted its stake in shares of Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock valued at $842,000 after acquiring an additional 123 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its stake in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock valued at $451,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. UBS Group increased their price objective on 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. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Scotiabank increased 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 note on Thursday, December 12th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Finally, Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five equities research 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 presently has an average rating of "Moderate Buy" and an average target price of $88.83.

Public Service Enterprise Group Trading Up 0.0 %

Shares of Public Service Enterprise Group stock traded up $0.03 during trading hours on Friday, reaching $83.91. The stock had a trading volume of 744,908 shares, compared to its average volume of 2,139,809. The firm has a 50 day simple moving average of $85.31 and a two-hundred day simple moving average of $85.64. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of 20.63, a P/E/G 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 Incorporated has a 1 year low of $58.96 and a 1 year high of $95.22.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Insider Transactions at Public Service Enterprise Group

In related 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 transaction of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $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 have sold a total of 3,712 shares of company stock worth $317,644 in the last three months. 0.57% of the stock is currently owned by company insiders.

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.