Center for Financial Planning Inc. Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Center for Financial Planning Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,126 shares of the utilities provider’s stock after buying an additional 120 shares during the quarter. Center for Financial Planning Inc.’s holdings in Public Service Enterprise Group were worth $349,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PEG. Ashton Thomas Securities LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at $35,000. Wingate Wealth Advisors Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at $48,000. Stonebridge Financial Group LLC purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $54,000. Finally, Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’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 value 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. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock worth $317,644 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.85 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. The company has a market capitalization of $41.78 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 12 month low of $58.96 and a 12 month high of $95.22. The business’s 50-day moving average is $85.31 and its 200 day moving average is $85.64.

Public Service Enterprise Group Increases Dividend

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

Analyst Ratings Changes

PEG has been the topic of several research analyst reports. UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Five investment 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, Public Service Enterprise Group 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.