Stonebridge Financial Group LLC Makes New $54,000 Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 644 shares of the utilities provider’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Ashton Thomas Securities LLC bought a new position in Public Service Enterprise Group during the third quarter valued at $35,000. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter worth about $48,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $57,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG opened at $83.93 on Friday. The company has a market capitalization of $41.81 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.77 and a beta of 0.64. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $58.45 and a 12-month high of $95.22. The business’s fifty day simple moving average is $85.46 and its 200-day simple moving average is $85.65.

Public Service Enterprise Group Increases Dividend

The firm also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is presently 61.92%.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,712 shares of company stock worth $317,644. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PEG shares. UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $88.83.

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.