Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Advanced Asset Management Advisors Inc

Advanced Asset Management Advisors Inc reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,482 shares of the utilities provider’s stock after selling 457 shares during the quarter. Advanced Asset Management Advisors Inc’s holdings in Public Service Enterprise Group were worth $2,153,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at about $35,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth about $48,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $54,000. Finally, Financial Life Planners purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $56,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock worth $317,644 over the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.85 on Monday. The company has a market cap of $41.78 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. The stock’s 50 day simple moving average is $85.18 and its 200-day simple moving average is $85.74. Public Service Enterprise Group Incorporated has a 1-year low of $58.96 and a 1-year high of $95.22. 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 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. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PEG shares. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. 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 downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. 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. Finally, BMO Capital Markets upped their target price on 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. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.