Rhumbline Advisers Sells 29,609 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Rhumbline Advisers lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 895,446 shares of the utilities provider's stock after selling 29,609 shares during the quarter. Rhumbline Advisers owned about 0.18% of Public Service Enterprise Group worth $75,656,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the period. FMR LLC grew its position in Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares in the last quarter. National Bank of Canada FI increased its stake in Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after acquiring an additional 640,485 shares during the period. Van ECK Associates Corp raised its holdings in Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock valued at $80,313,000 after acquiring an additional 483,795 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Public Service Enterprise Group by 179.5% in the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock valued at $63,061,000 after acquiring an additional 453,985 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded down $1.26 during trading on Thursday, reaching $84.54. The stock had a trading volume of 2,213,098 shares, compared to its average volume of 2,197,779. The stock has a market capitalization of $42.12 billion, a PE ratio of 20.77, a P/E/G ratio of 2.79 and a beta of 0.64. 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 52 week low of $59.29 and a 52 week high of $95.22. The business's 50-day moving average price is $85.07 and its 200 day moving average price is $85.85.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed 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 is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 2.98%. Public Service Enterprise Group's payout ratio is presently 58.97%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. 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 reiterated a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group increased their price objective 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 decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $88.83.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company's stock.

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.