Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 77,252 shares of the utilities provider's stock after selling 16,324 shares during the period. Sanctuary Advisors LLC's holdings in Public Service Enterprise Group were worth $6,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $35,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $35,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $56,000. Finally, Brown Lisle Cummings Inc. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $57,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Down 1.0 %

Shares of PEG traded down $0.85 during midday trading on Friday, reaching $83.82. The stock had a trading volume of 4,699,113 shares, compared to its average volume of 2,204,013. 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 company's fifty day simple moving average is $84.99 and its two-hundred day simple moving average is $85.89. The company has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 1-year low of $59.29 and a 1-year high of $95.22.

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 issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group's payout ratio is 58.97%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PEG shares. Scotiabank increased their price objective 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. UBS Group raised their price target on 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. Barclays downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus 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.