Abner Herrman & Brock LLC Buys 166 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Abner Herrman & Brock LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,816 shares of the utilities provider’s stock after acquiring an additional 166 shares during the period. Abner Herrman & Brock LLC’s holdings in Public Service Enterprise Group were worth $1,421,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEG. CENTRAL TRUST Co raised its position in Public Service Enterprise Group by 25.5% in the fourth quarter. CENTRAL TRUST Co now owns 3,714 shares of the utilities provider’s stock worth $314,000 after acquiring an additional 755 shares during the period. Greenleaf Trust increased its stake in Public Service Enterprise Group by 7.2% in the fourth quarter. Greenleaf Trust now owns 11,139 shares of the utilities provider’s stock valued at $941,000 after acquiring an additional 749 shares during the last quarter. Golden State Equity Partners lifted its holdings in shares of Public Service Enterprise Group by 20.6% in the 4th quarter. Golden State Equity Partners now owns 8,836 shares of the utilities provider’s stock worth $747,000 after acquiring an additional 1,507 shares during the last quarter. Spire Wealth Management grew its position in Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after acquiring an additional 121 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in shares of Public Service Enterprise Group by 7.3% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,866 shares of the utilities provider’s stock valued at $1,256,000 after acquiring an additional 1,010 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, UBS Group upped their target price 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. Five 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Trading Down 0.3 %

Public Service Enterprise Group stock opened at $83.57 on Monday. The firm has a market cap of $41.64 billion, a PE ratio of 20.53, a P/E/G ratio of 2.67 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $57.24 and a 12 month high of $95.22. The stock’s 50 day simple moving average is $86.97 and its two-hundred day simple moving average is $85.17. 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 (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 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.