MassMutual Private Wealth & Trust FSB Acquires 507 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

MassMutual Private Wealth & Trust FSB increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,343 shares of the utilities provider’s stock after buying an additional 507 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Public Service Enterprise Group were worth $705,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth about $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Legacy Investment Solutions LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $59,000. Kimelman & Baird LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $66,000. Finally, Fortitude Family Office LLC grew its stake in shares of Public Service Enterprise Group by 325.0% during the third quarter. Fortitude Family Office LLC now owns 799 shares of the utilities provider’s stock worth $71,000 after buying an additional 611 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI boosted their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. UBS Group raised their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their target price 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. Finally, Barclays dropped their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on 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 sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,234 shares of company stock valued at $722,037 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 2.6 %

Shares of NYSE:PEG opened at $90.47 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The business’s 50-day moving average is $87.70 and its 200-day moving average is $84.61. The company has a market capitalization of $45.07 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.94 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued 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 2.65%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.