Farmers & Merchants Trust Co of Chambersburg PA Has $1.23 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Farmers & Merchants Trust Co of Chambersburg PA decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,540 shares of the utilities provider’s stock after selling 130 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Public Service Enterprise Group were worth $1,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Public Service Enterprise Group by 5.2% during the third quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after purchasing an additional 4,710 shares in the last quarter. Sumitomo Life Insurance Co. lifted its holdings in Public Service Enterprise Group by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,152 shares of the utilities provider’s stock worth $1,352,000 after buying an additional 413 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Public Service Enterprise Group by 5.7% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 77,729 shares of the utilities provider’s stock worth $6,934,000 after buying an additional 4,160 shares in the last quarter. BOS Asset Management LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth $232,000. Finally, B.O.S.S. Retirement Advisors LLC lifted its holdings in Public Service Enterprise Group by 1.6% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 24,257 shares of the utilities provider’s stock worth $2,164,000 after buying an additional 373 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PEG shares. Scotiabank raised their price target 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 raised 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 research note on Wednesday, October 30th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five investment 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 MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $88.83.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group 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 transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,712 shares of company stock worth $317,644. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 0.2 %

Shares of NYSE PEG opened at $83.93 on Friday. The company’s fifty day moving average is $85.46 and its 200-day moving average is $85.65. The stock has a market cap of $41.81 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a twelve month low of $58.45 and a twelve month high of $95.22. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend 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 3.00%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.