Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Empirical Finance LLC

Empirical Finance LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,060 shares of the utilities provider’s stock after selling 222 shares during the period. Empirical Finance LLC’s holdings in Public Service Enterprise Group were worth $1,441,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its stake in shares of Public Service Enterprise Group by 2.5% in the 3rd quarter. Brookstone Capital Management now owns 7,658 shares of the utilities provider’s stock valued at $683,000 after purchasing an additional 190 shares in the last quarter. CWM LLC raised its stake in Public Service Enterprise Group by 4.2% during the third quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock valued at $1,932,000 after buying an additional 867 shares in the last quarter. HCR Wealth Advisors bought a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $207,000. Retirement Planning Group LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $333,000. Finally, CHICAGO TRUST Co NA increased its holdings in shares of Public Service Enterprise Group by 2.5% in the 3rd quarter. CHICAGO TRUST Co NA now owns 37,557 shares of the utilities provider’s stock valued at $3,350,000 after acquiring an additional 929 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,712 shares of company stock worth $317,644 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4 %

Shares of Public Service Enterprise Group stock opened at $83.61 on Monday. 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 1-year low of $57.40 and a 1-year high of $95.22. The business’s fifty day moving average price is $85.93 and its two-hundred day moving average price is $85.47. The company has a market capitalization of $41.66 billion, a P/E ratio of 20.54, a PEG ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank raised their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group increased their price objective 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. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.