9,506 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 9,506 shares of the utilities provider's stock, valued at approximately $803,000.

Other institutional investors have also modified their holdings of the company. Old Port Advisors raised its holdings in Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock valued at $2,099,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 1.3% in the 3rd 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 period. Spire Wealth Management raised its stake in shares of Public Service Enterprise Group by 2.4% in the 4th 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 period. First Commonwealth Financial Corp PA lifted its holdings in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock worth $842,000 after acquiring an additional 123 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its position in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock worth $451,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. UBS Group boosted their target price on 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. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. BMO Capital Markets raised 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. Scotiabank boosted their price target 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. Finally, Guggenheim reissued 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 issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, 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 transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,712 shares of company stock worth $317,644. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Up 0.1 %

Shares of NYSE:PEG traded up $0.05 on Wednesday, hitting $83.82. 1,704,743 shares of the company's stock were exchanged, compared to its average volume of 2,191,577. Public Service Enterprise Group Incorporated has a 1-year low of $57.40 and a 1-year high of $95.22. The company has a market capitalization of $41.76 billion, a PE ratio of 20.59, a P/E/G ratio of 2.77 and a beta of 0.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm's 50-day moving average is $85.62 and its 200 day moving average is $85.66.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. 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 presently 58.97%.

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.