Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,663 shares of the utilities provider’s stock after acquiring an additional 1,483 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Public Service Enterprise Group were worth $732,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the 3rd quarter worth about $48,000. Financial Life Planners purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Brown Lisle Cummings Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $57,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $59,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.61 on Friday. The company has a market capitalization of $41.66 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.77 and a beta of 0.64. 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 Incorporated has a 52 week low of $57.40 and a 52 week high of $95.22. The stock’s fifty day moving average is $85.93 and its two-hundred day moving average is $85.41.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEG. UBS Group boosted their price target on 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. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Finally, BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Five 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.83.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now owns 144,212 shares of the company’s stock, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,612 shares of company stock valued at $836,549. Company insiders own 0.57% of the company’s stock.

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.