New York State Common Retirement Fund Sells 15,607 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

New York State Common Retirement Fund cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 254,182 shares of the utilities provider’s stock after selling 15,607 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Public Service Enterprise Group worth $21,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Old Port Advisors raised its stake in shares of Public Service Enterprise Group by 0.5% in the third 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 period. Center for Financial Planning Inc. increased its holdings in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management raised its stake in 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 acquiring an additional 121 shares during the period. First Commonwealth Financial Corp PA lifted its holdings in Public Service Enterprise Group by 1.3% during the third 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 in the last quarter. Finally, Cigna Investments Inc. New boosted its position in shares of Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 124 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. UBS Group upped their price objective on 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. Finally, Scotiabank increased their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.83.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.82 on Friday. The company has a market cap of $41.76 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 2.82 and a beta of 0.64. Public Service Enterprise Group Incorporated has a 1 year low of $59.29 and a 1 year high of $95.22. The stock’s 50 day simple moving average is $84.99 and its two-hundred day simple moving average is $85.89. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.01%. 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%.

About Public Service Enterprise Group

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.