Kingsview Wealth Management LLC Has $622,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Kingsview Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,360 shares of the utilities provider’s stock after acquiring an additional 1,334 shares during the period. Kingsview Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $622,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PEG. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $48,000. Financial Life Planners bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Brown Lisle Cummings Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $57,000. Finally, Legacy Investment Solutions LLC bought a new position in Public Service Enterprise Group in the third quarter valued at approximately $59,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.1 %

Shares of NYSE:PEG opened at $83.82 on Thursday. The firm has a market cap of $41.76 billion, a P/E ratio of 20.59, 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 $57.40 and a 12-month high of $95.22. The business has a fifty day simple moving average of $85.62 and a 200 day simple moving average of $85.66. 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 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 dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 58.97%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,712 shares of company stock valued at $317,644 over the last ninety days. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Scotiabank lifted 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. BMO Capital Markets increased their target price on shares of 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. 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 data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $88.83.

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.