Chevy Chase Trust Holdings LLC Has $22.11 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Chevy Chase Trust Holdings LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261,718 shares of the utilities provider's stock after selling 5,434 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Public Service Enterprise Group worth $22,113,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Consolidated Planning Corp boosted its holdings in shares of Public Service Enterprise Group by 25.9% in the 4th quarter. Consolidated Planning Corp now owns 5,593 shares of the utilities provider's stock worth $473,000 after acquiring an additional 1,149 shares in the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in Public Service Enterprise Group by 3.6% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 22,999 shares of the utilities provider's stock worth $1,943,000 after buying an additional 794 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Public Service Enterprise Group during the 4th quarter worth $875,000. Van ECK Associates Corp lifted its holdings in Public Service Enterprise Group by 103.6% during the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock worth $80,313,000 after buying an additional 483,795 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in Public Service Enterprise Group by 34.1% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,822 shares of the utilities provider's stock worth $323,000 after buying an additional 972 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 1.0 %

PEG stock traded up $0.83 during trading hours on Wednesday, reaching $85.77. 2,495,703 shares of the stock were exchanged, compared to its average volume of 2,192,837. The firm's 50-day moving average is $85.07 and its 200-day moving average is $85.85. Public Service Enterprise Group Incorporated has a 12 month low of $59.29 and a 12 month high of $95.22. The company has a market cap of $42.73 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.77 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.

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 given a dividend of $0.63 per share. 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 dividend yield of 2.94%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is currently 58.97%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PEG. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Scotiabank upped their target price on shares of 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. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company'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 transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by 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.