Confluence Wealth Services Inc. Has $1.80 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Confluence Wealth Services Inc. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 38.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,433 shares of the utilities provider's stock after purchasing an additional 5,722 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Public Service Enterprise Group were worth $1,802,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $48,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $59,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $57,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.32 on Friday, hitting $83.61. The company's stock had a trading volume of 1,544,159 shares, compared to its average volume of 2,227,200. The company has a market capitalization of $41.66 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth 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. Public Service Enterprise Group Incorporated has a 12 month low of $57.40 and a 12 month high of $95.22. The stock's 50-day moving average is $85.93 and its two-hundred day moving average is $85.41.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent analyst reports. Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Finally, UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Five research 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. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $88.83.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,612 shares of company stock worth $836,549 over the last 90 days. 0.57% of the stock is currently owned by company insiders.

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.