Kentucky Retirement Systems Insurance Trust Fund Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,914 shares of the utilities provider's stock after buying an additional 3,165 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Public Service Enterprise Group were worth $1,514,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after buying an additional 18,627 shares during the last quarter. DRW Securities LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $8,244,000. Cullen Investment Group LTD. raised its position in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $2,565,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank upped 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 report on Thursday, December 12th. Finally, UBS Group upped their price target on shares of 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. 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on 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 of the company's stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 1.0 %

Shares of PEG stock traded down $0.85 during trading hours on Friday, hitting $83.82. The company had a trading volume of 4,699,113 shares, compared to its average volume of 2,271,344. The company's fifty day moving average is $85.05 and its 200 day moving average is $85.84. 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 Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The stock has a market capitalization of $41.76 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Monday, March 10th. 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 currently 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.