New York State Teachers Retirement System Sells 4,355 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Teachers Retirement System cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 468,483 shares of the utilities provider's stock after selling 4,355 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Public Service Enterprise Group worth $39,582,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PEG. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $48,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $54,000. Finally, Financial Life Planners acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.83 during trading hours on Wednesday, reaching $85.77. 2,514,335 shares of the stock traded hands, compared to its average volume of 2,197,301. The company has a market capitalization of $42.73 billion, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52-week low of $59.29 and a 52-week high of $95.22. The company's 50-day simple moving average is $85.07 and its two-hundred day simple moving average is $85.85.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed 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 2.94%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is 58.97%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEG. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday, December 12th. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group lifted 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. Finally, Barclays cut 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 report on Monday, January 27th. Five 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 currently has an average 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.