Public Service Enterprise Group Incorporated (NYSE:PEG) Position Lessened by Empirical Finance LLC

Empirical Finance LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,060 shares of the utilities provider’s stock after selling 222 shares during the period. Empirical Finance LLC’s holdings in Public Service Enterprise Group were worth $1,441,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PEG. Brookstone Capital Management boosted its holdings in shares of Public Service Enterprise Group by 2.5% during the 3rd quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock worth $683,000 after buying an additional 190 shares during the period. CWM LLC boosted its stake in Public Service Enterprise Group by 4.2% during the 3rd quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock valued at $1,932,000 after purchasing an additional 867 shares during the period. HCR Wealth Advisors bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $207,000. Retirement Planning Group LLC bought a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $333,000. Finally, CHICAGO TRUST Co NA lifted its holdings in shares of Public Service Enterprise Group by 2.5% during the third quarter. CHICAGO TRUST Co NA now owns 37,557 shares of the utilities provider’s stock worth $3,350,000 after buying an additional 929 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4 %

Shares of PEG opened at $83.61 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The stock has a market cap of $41.66 billion, a PE ratio of 20.54, a PEG ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 1 year low of $57.40 and a 1 year high of $95.22. The stock has a 50 day simple moving average of $85.93 and a 200-day simple moving average of $85.47.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.87%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction 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 $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value 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. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,712 shares of company stock valued at $317,644. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price objective on shares of 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. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. UBS Group boosted their price target 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. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average 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.