Truist Financial Corp Has $13.56 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Truist Financial Corp decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,513 shares of the utilities provider's stock after selling 5,564 shares during the quarter. Truist Financial Corp's holdings in Public Service Enterprise Group were worth $13,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Public Service Enterprise Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock worth $1,051,744,000 after purchasing an additional 49,285 shares during the period. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after purchasing an additional 877,345 shares during the period. Jennison Associates LLC lifted its stake 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. Charles Schwab Investment Management Inc. lifted its stake in shares of Public Service Enterprise Group by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock worth $263,315,000 after purchasing an additional 19,650 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Public Service Enterprise Group by 5.9% during the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock worth $235,194,000 after purchasing an additional 147,903 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's 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 sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on PEG shares. Guggenheim restated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. 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 report on Thursday, December 12th. UBS Group upped their price objective on 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 downgraded Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

Public Service Enterprise Group Stock Down 1.0 %

Shares of PEG stock traded down $0.85 during trading hours on Friday, hitting $83.82. 4,699,113 shares of the company were exchanged, compared to its average volume of 2,271,344. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year high of $95.22. The business's 50-day simple moving average is $85.05 and its two-hundred day simple moving average is $85.84. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.82 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 58.97%.

About Public Service Enterprise Group

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.