Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 593,387 shares of the utilities provider's stock after selling 9,187 shares during the period. Principal Financial Group Inc. owned 0.12% of Public Service Enterprise Group worth $50,135,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Americana Partners LLC boosted its stake in Public Service Enterprise Group by 10.9% in the 4th quarter. Americana Partners LLC now owns 4,635 shares of the utilities provider's stock worth $392,000 after purchasing an additional 457 shares in the last quarter. Spectrum Wealth Advisory Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $220,000. Allworth Financial LP lifted its holdings in shares of Public Service Enterprise Group by 103.3% during the 4th quarter. Allworth Financial LP now owns 10,844 shares of the utilities provider's stock valued at $957,000 after buying an additional 5,509 shares during the period. Principal Securities Inc. lifted its holdings in shares of Public Service Enterprise Group by 4.6% during the 4th quarter. Principal Securities Inc. now owns 6,021 shares of the utilities provider's stock valued at $509,000 after buying an additional 263 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Public Service Enterprise Group by 60.2% during the 4th quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider's stock valued at $89,000 after buying an additional 396 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 1.0 %

Shares of PEG traded down $0.85 during mid-day trading on Friday, reaching $83.82. 4,699,113 shares of the company's stock traded hands, compared to its average volume of 2,271,344. The stock has a market cap of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.82 and a beta of 0.64. 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 debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock's 50-day moving average is $85.05 and its two-hundred day moving average is $85.84.

Public Service Enterprise Group Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent research reports. UBS Group increased 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. Scotiabank raised their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. Barclays downgraded 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 research note on Monday, January 27th. Finally, Guggenheim restated 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is owned by insiders.

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.