First Bank & Trust Decreases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Bank & Trust reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,466 shares of the utilities provider’s stock after selling 168 shares during the quarter. First Bank & Trust’s holdings in Public Service Enterprise Group were worth $208,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PEG. Geode Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after buying an additional 49,285 shares in the last quarter. FMR LLC boosted its holdings in Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock worth $481,825,000 after acquiring an additional 877,345 shares during the period. Jennison Associates LLC grew its position in Public Service Enterprise Group by 125.3% in the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after acquiring an additional 1,882,667 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider’s stock valued at $263,315,000 after purchasing an additional 19,650 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider’s stock valued at $235,194,000 after purchasing an additional 147,903 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Down 1.5 %

Shares of Public Service Enterprise Group stock opened at $84.54 on Friday. The business has a 50-day moving average price of $85.05 and a 200 day moving average price of $85.84. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The firm has a market cap of $42.12 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.79 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEG shares. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.