6,881 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,881 shares of the utilities provider’s stock, valued at approximately $581,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,149,597 shares of the utilities provider’s stock valued at $97,129,000 after buying an additional 21,164 shares in the last quarter. Centennial Wealth Advisory LLC boosted its stake in Public Service Enterprise Group by 6.4% in the fourth quarter. Centennial Wealth Advisory LLC now owns 6,773 shares of the utilities provider’s stock valued at $572,000 after acquiring an additional 406 shares in the last quarter. Choreo LLC grew its holdings in shares of Public Service Enterprise Group by 71.4% during the fourth quarter. Choreo LLC now owns 41,643 shares of the utilities provider’s stock worth $3,535,000 after purchasing an additional 17,352 shares during the last quarter. Confluence Wealth Services Inc. increased its position in shares of Public Service Enterprise Group by 38.9% during the fourth quarter. Confluence Wealth Services Inc. now owns 20,433 shares of the utilities provider’s stock worth $1,802,000 after purchasing an additional 5,722 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Public Service Enterprise Group by 203.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,541 shares of the utilities provider’s stock valued at $8,005,000 after purchasing an additional 63,430 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

PEG opened at $83.61 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $57.40 and a 12 month high of $95.22. The stock has a market capitalization of $41.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.67 and a beta of 0.64. The business has a 50 day simple moving average of $86.15 and a 200-day simple moving average of $85.35.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given 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 dividend yield of 2.87%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PEG. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their target price 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. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, UBS Group increased their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,612 shares of company stock valued at $836,549 in the last ninety days. 0.18% of the stock is currently owned by company insiders.

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.