Leo Wealth LLC Sells 5,725 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Leo Wealth LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,910 shares of the utilities provider's stock after selling 5,725 shares during the quarter. Leo Wealth LLC's holdings in Public Service Enterprise Group were worth $1,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at about $48,000. Financial Life Planners acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $57,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.07 during trading on Monday, reaching $83.58. 640,656 shares of the stock were exchanged, compared to its average volume of 2,168,330. Public Service Enterprise Group Incorporated has a 12 month low of $57.40 and a 12 month high of $95.22. The stock has a 50-day moving average price of $85.93 and a 200-day moving average price of $85.54. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.64 billion, a PE ratio of 20.54, a PEG ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Dividend Announcement

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

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company's stock, valued at $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock valued at $317,644 in the last ninety days. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets upped their target price 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. Scotiabank upped their price objective on 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. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group increased their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $88.83.

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.