Bradley Foster & Sargent Inc. CT Decreases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bradley Foster & Sargent Inc. CT cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,001 shares of the utilities provider’s stock after selling 121 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Public Service Enterprise Group were worth $676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Public Service Enterprise Group by 9,306.2% during the 3rd quarter. International Assets Investment Management LLC now owns 404,938 shares of the utilities provider’s stock worth $36,125,000 after purchasing an additional 400,633 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Public Service Enterprise Group by 132.7% during the third quarter. Assenagon Asset Management S.A. now owns 110,240 shares of the utilities provider’s stock worth $9,835,000 after buying an additional 62,868 shares in the last quarter. Silver Oak Securities Incorporated bought a new stake in shares of Public Service Enterprise Group in the third quarter worth $569,000. Ballentine Partners LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $238,000. Finally, Burford Brothers Inc. boosted its stake in Public Service Enterprise Group by 3.0% during the 3rd quarter. Burford Brothers Inc. now owns 10,363 shares of the utilities provider’s stock valued at $925,000 after acquiring an additional 305 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $83.82 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $59.29 and a 12 month high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a fifty day moving average price of $84.99 and a 200 day moving average price of $85.94. The company has a market cap of $41.76 billion, a P/E ratio of 20.59, a PEG ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Monday, March 10th. 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 61.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank boosted their price objective 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 increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.83.

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.