Atlantic Edge Private Wealth Management LLC Sells 14,780 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Atlantic Edge Private Wealth Management LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 92.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,255 shares of the utilities provider’s stock after selling 14,780 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $106,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. CWM LLC increased its stake in Public Service Enterprise Group by 4.2% during the third quarter. CWM LLC now owns 21,653 shares of the utilities provider’s stock worth $1,932,000 after acquiring an additional 867 shares during the last quarter. Retirement Planning Group LLC bought a new stake in Public Service Enterprise Group during the third quarter worth approximately $333,000. Douglas Lane & Associates LLC bought a new stake in Public Service Enterprise Group during the third quarter worth approximately $207,000. Harrell Investment Partners LLC increased its stake in Public Service Enterprise Group by 38.7% during the third quarter. Harrell Investment Partners LLC now owns 29,319 shares of the utilities provider’s stock worth $2,616,000 after acquiring an additional 8,182 shares during the last quarter. Finally, Creative Planning increased its stake in Public Service Enterprise Group by 5.2% during the third quarter. Creative Planning now owns 95,695 shares of the utilities provider’s stock worth $8,537,000 after acquiring an additional 4,710 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PEG shares. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Scotiabank boosted their target price 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. UBS Group boosted their target price 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. Finally, BMO Capital Markets boosted their target price 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. Five 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.83.

Public Service Enterprise Group Stock Up 0.3 %

Public Service Enterprise Group stock opened at $83.88 on Tuesday. The business has a fifty day moving average of $85.93 and a two-hundred day moving average of $85.54. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.79 billion, a P/E ratio of 20.61, a P/E/G ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a twelve month low of $57.40 and a twelve month high of $95.22.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.86%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now directly 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the transaction, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,712 shares of company stock worth $317,644 over the last 90 days. Company 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.