First Horizon Advisors Inc. Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Horizon Advisors Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,400 shares of the utilities provider’s stock after purchasing an additional 1,497 shares during the quarter. Public Service Enterprise Group accounts for approximately 0.9% of First Horizon Advisors Inc.’s holdings, making the stock its 26th biggest position. First Horizon Advisors Inc. owned approximately 0.08% of Public Service Enterprise Group worth $33,492,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PEG. International Assets Investment Management LLC raised its position in shares of Public Service Enterprise Group by 9,306.2% in 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. raised its position in shares of Public Service Enterprise Group by 132.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,240 shares of the utilities provider’s stock worth $9,835,000 after purchasing an additional 62,868 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $569,000. Ballentine Partners LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth about $238,000. Finally, Burford Brothers Inc. raised its position in shares of Public Service Enterprise Group by 3.0% in the 3rd quarter. Burford Brothers Inc. now owns 10,363 shares of the utilities provider’s stock worth $925,000 after purchasing an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PEG. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank lifted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. UBS Group lifted their price objective 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 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 report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Trading Down 1.0 %

Public Service Enterprise Group stock opened at $83.82 on Friday. The business has a 50-day simple moving average of $84.99 and a two-hundred day simple moving average of $85.94. The company has a market cap of $41.76 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.78 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 52-week low of $59.29 and a 52-week 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 company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is currently 61.92%.

Insider Buying and Selling at Public Service Enterprise Group

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

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.