58,294 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 58,294 shares of the utilities provider’s stock, valued at approximately $4,925,000.

Several other large investors have also bought and sold shares of the stock. Foundations Investment Advisors LLC raised its stake 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 buying an additional 18,627 shares during the last quarter. DRW Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $8,244,000. Cullen Investment Group LTD. raised its position in shares of Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares in the last quarter. Arvest Bank Trust Division bought a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $2,565,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Down 1.0 %

PEG opened at $83.82 on Monday. The business has a 50 day simple moving average of $84.99 and a two-hundred day simple moving average of $85.99. The firm has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64. 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 Incorporated has a one year low of $59.29 and a one year high of $95.22.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed 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 is Monday, March 10th. This is a positive change 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%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PEG. 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 report on Monday, January 27th. Scotiabank boosted 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 report on Thursday, December 12th. UBS Group upped their price objective on shares of 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 reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

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.