Sumitomo Mitsui Trust Group Inc. Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,149,597 shares of the utilities provider's stock after purchasing an additional 21,164 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Public Service Enterprise Group worth $97,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Centennial Wealth Advisory LLC lifted its position in shares of Public Service Enterprise Group by 6.4% during the 4th quarter. Centennial Wealth Advisory LLC now owns 6,773 shares of the utilities provider's stock valued at $572,000 after buying an additional 406 shares during the last quarter. Choreo LLC raised its stake in shares of Public Service Enterprise Group by 71.4% during the 4th quarter. Choreo LLC now owns 41,643 shares of the utilities provider's stock valued at $3,535,000 after purchasing an additional 17,352 shares during the period. Confluence Wealth Services Inc. raised its stake in shares of Public Service Enterprise Group by 38.9% during the 4th quarter. Confluence Wealth Services Inc. now owns 20,433 shares of the utilities provider's stock valued at $1,802,000 after purchasing an additional 5,722 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Public Service Enterprise Group by 203.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,541 shares of the utilities provider's stock valued at $8,005,000 after purchasing an additional 63,430 shares during the period. Finally, Spirit of America Management Corp NY raised its stake in shares of Public Service Enterprise Group by 4.8% during the 4th quarter. Spirit of America Management Corp NY now owns 10,850 shares of the utilities provider's stock valued at $917,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEG shares. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Scotiabank upped their target price 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. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Finally, UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Five 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.83.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,712 shares of company stock valued at $317,644. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Trading Up 0.1 %

PEG stock traded up $0.05 during trading on Wednesday, hitting $83.82. 1,704,743 shares of the company traded hands, compared to its average volume of 2,191,577. Public Service Enterprise Group Incorporated has a 1 year low of $57.40 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50-day moving average of $85.62 and a 200-day moving average of $85.66. The firm has a market capitalization of $41.76 billion, a PE ratio of 20.59, a P/E/G ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company 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 $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 58.97%.

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.