Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,139 shares of the utilities provider’s stock after selling 667 shares during the period. Schechter Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $1,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Center for Financial Planning Inc. boosted its holdings in Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares during the period. Spire Wealth Management boosted its stake in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after buying an additional 121 shares during the period. First Commonwealth Financial Corp PA grew its position in shares of 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 worth $842,000 after buying an additional 123 shares in the last quarter. United Asset Strategies Inc. increased its stake in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after buying an additional 127 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, 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 transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several analyst reports. 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. Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.83.

Public Service Enterprise Group Stock Up 0.8 %

PEG stock opened at $81.79 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $61.99 and a 52 week high of $95.22. 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 cap of $40.75 billion, a P/E ratio of 20.10, a P/E/G ratio of 2.78 and a beta of 0.64. The company’s 50-day moving average price is $84.71 and its 200 day moving average price is $86.08.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

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.