Newman Dignan & Sheerar Inc. Sells 718 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Newman Dignan & Sheerar Inc. trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,490 shares of the utilities provider’s stock after selling 718 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Public Service Enterprise Group were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. WASHINGTON TRUST Co increased its stake in shares of Public Service Enterprise Group by 60.2% in the 4th quarter. WASHINGTON TRUST Co now owns 1,054 shares of the utilities provider’s stock worth $89,000 after acquiring an additional 396 shares in the last quarter. Center for Financial Planning Inc. increased its stake in shares of 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. Consolidated Planning Corp increased its stake in shares of Public Service Enterprise Group by 25.9% in the 4th quarter. Consolidated Planning Corp now owns 5,593 shares of the utilities provider’s stock worth $473,000 after acquiring an additional 1,149 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its stake in shares of Public Service Enterprise Group by 3.6% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 22,999 shares of the utilities provider’s stock worth $1,943,000 after acquiring an additional 794 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $875,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,712 shares of company stock valued at $317,644. 0.57% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group increased their price objective on shares of 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. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. BMO Capital Markets increased their price objective on shares of 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. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, 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 research report on Thursday, December 12th. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Stock Performance

PEG opened at $83.85 on Friday. 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 $41.78 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.77 and a beta of 0.64. The company’s 50 day moving average is $85.18 and its 200 day moving average is $85.69. Public Service Enterprise Group Incorporated has a 12-month low of $58.96 and a 12-month high of $95.22.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.