Kentucky Retirement Systems Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kentucky Retirement Systems trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,233 shares of the utilities provider’s stock after selling 472 shares during the quarter. Kentucky Retirement Systems’ holdings in Public Service Enterprise Group were worth $2,892,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. ING Groep NV purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $22,443,000. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Public Service Enterprise Group by 21.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,914 shares of the utilities provider’s stock valued at $1,514,000 after purchasing an additional 3,165 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $875,000. Atria Wealth Solutions Inc. boosted its stake in shares of Public Service Enterprise Group by 16.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 20,490 shares of the utilities provider’s stock valued at $1,731,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Empower Advisory Group LLC increased its holdings in Public Service Enterprise Group by 5.5% during the fourth quarter. Empower Advisory Group LLC now owns 5,839 shares of the utilities provider’s stock valued at $493,000 after buying an additional 306 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 1.0 %

NYSE:PEG opened at $83.82 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The company has a market cap of $41.76 billion, a PE ratio of 20.59, a P/E/G ratio of 2.82 and a beta of 0.64. The company’s 50 day moving average is $84.99 and its two-hundred day moving average is $85.89.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 58.97%.

Insider Buying and Selling

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 sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PEG has been the subject of a number of analyst reports. UBS Group upped 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. Scotiabank boosted their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Five 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.83.

About Public Service Enterprise Group

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.