Farmers & Merchants Investments Inc. Has $28,000 Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Farmers & Merchants Investments Inc. cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 41.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330 shares of the utilities provider’s stock after selling 230 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Public Service Enterprise Group were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth $48,000. Financial Life Planners bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $56,000. Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $57,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $59,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock worth $317,644 in the last quarter. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEG. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank upped their price objective on 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. UBS Group raised their target price 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. BMO Capital Markets upped their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Stock Down 0.4 %

Shares of NYSE:PEG opened at $83.61 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $57.40 and a 12 month high of $95.22. The firm has a market cap of $41.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.77 and a beta of 0.64. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average price is $85.93 and its two-hundred day moving average price is $85.47.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.