6,881 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,881 shares of the utilities provider's stock, valued at approximately $581,000.

Other hedge funds also recently modified their holdings of the company. Brookstone Capital Management grew its position in Public Service Enterprise Group by 2.5% in the third quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider's stock worth $683,000 after buying an additional 190 shares during the last quarter. CWM LLC boosted its stake in shares of Public Service Enterprise Group by 4.2% during the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider's stock worth $1,932,000 after acquiring an additional 867 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Public Service Enterprise Group by 3.9% in the 3rd quarter. Wedmont Private Capital now owns 5,463 shares of the utilities provider's stock worth $492,000 after acquiring an additional 207 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $228,000. Finally, Merrion Investment Management Co LLC lifted its holdings in shares of Public Service Enterprise Group by 4.6% during the third quarter. Merrion Investment Management Co LLC now owns 11,300 shares of the utilities provider's stock valued at $1,008,000 after purchasing an additional 500 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 3,712 shares of company stock valued at $317,644. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Down 0.2 %

Shares of PEG stock traded down $0.14 on Tuesday, hitting $83.75. The company's stock had a trading volume of 2,341,534 shares, compared to its average volume of 2,209,609. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $41.73 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. The firm's fifty day moving average price is $85.77 and its 200-day moving average price is $85.61.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is 58.97%.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. BMO Capital Markets boosted their price objective on 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. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group raised their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock 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 reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Five 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's stock. According to data from MarketBeat.com, Public Service Enterprise Group 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.