First Bank & Trust Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Bank & Trust lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,466 shares of the utilities provider’s stock after selling 168 shares during the period. First Bank & Trust’s holdings in Public Service Enterprise Group were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $35,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth $59,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank raised their price target on shares of 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. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 1.5 %

Shares of PEG opened at $84.54 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The company’s fifty day moving average is $85.05 and its two-hundred day moving average is $85.84. The firm has a market cap of $42.12 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.79 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.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 2.98%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. 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.