Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,914 shares of the utilities provider’s stock after selling 1,026 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $3,710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its holdings in Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after acquiring an additional 18,627 shares during the period. DRW Securities LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $8,244,000. Cullen Investment Group LTD. grew its holdings in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group in the third quarter valued at $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $2,565,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. UBS Group upped their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.82 on Friday. The business’s 50-day moving average price is $84.99 and its 200 day moving average price is $85.94. Public Service Enterprise Group Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The company has a market capitalization of $41.76 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 2.78 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio is 61.92%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by company insiders.

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.