Concurrent Investment Advisors LLC Has $1.24 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Concurrent Investment Advisors LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,719 shares of the utilities provider’s stock after selling 356 shares during the period. Concurrent Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,244,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Old Port Advisors boosted its stake in shares of Public Service Enterprise Group by 0.5% during the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after buying an additional 113 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in shares of Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after buying an additional 120 shares during the last quarter. Spire Wealth Management boosted its stake in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA lifted its stake in Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock valued at $842,000 after purchasing an additional 123 shares during the last quarter. Finally, Cigna Investments Inc. New lifted its stake in Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock valued at $451,000 after purchasing an additional 124 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In other 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 transaction of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, 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 hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group raised their target price on shares of 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. Scotiabank raised their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Finally, Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Down 1.0 %

Public Service Enterprise Group stock opened at $83.82 on Friday. The stock 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. 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 Incorporated has a twelve month low of $59.29 and a twelve month high of $95.22. The company’s 50-day moving average price is $84.99 and its two-hundred day moving average price is $85.94.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. 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. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 61.92%.

Public Service Enterprise Group 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.