Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,151 shares of the utilities provider’s stock after selling 270 shares during the period. Kanawha Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,872,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning raised its stake in Public Service Enterprise Group by 5.2% during the 3rd quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock valued at $8,537,000 after purchasing an additional 4,710 shares during the period. Sumitomo Life Insurance Co. boosted its position in shares of Public Service Enterprise Group by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 15,152 shares of the utilities provider’s stock worth $1,352,000 after acquiring an additional 413 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Public Service Enterprise Group by 5.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 77,729 shares of the utilities provider’s stock valued at $6,934,000 after purchasing an additional 4,160 shares during the last quarter. BOS Asset Management LLC bought a new position in shares of Public Service Enterprise Group during the third quarter valued at $232,000. Finally, B.O.S.S. Retirement Advisors LLC raised its stake in shares of Public Service Enterprise Group by 1.6% during the third quarter. B.O.S.S. Retirement Advisors LLC now owns 24,257 shares of the utilities provider’s stock valued at $2,164,000 after acquiring an additional 373 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.93 on Friday. The company’s 50 day moving average is $85.46 and its 200-day moving average is $85.65. The firm has a market cap of $41.81 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12-month low of $58.45 and a 12-month high of $95.22. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.00%. 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. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEG. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. BMO Capital Markets lifted their price objective on shares of 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. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, UBS Group lifted 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 report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 956 shares of the company’s 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 completion of the sale, the chief operating officer now owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock valued at $317,644 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

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.