2,934 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,934 shares of the utilities provider’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sage Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $241,000. Independent Advisor Alliance grew its holdings in Public Service Enterprise Group by 14.2% in the fourth quarter. Independent Advisor Alliance now owns 10,022 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 1,245 shares during the period. Paragon Private Wealth Management LLC grew its holdings in Public Service Enterprise Group by 22.1% in the fourth quarter. Paragon Private Wealth Management LLC now owns 4,424 shares of the utilities provider’s stock worth $374,000 after purchasing an additional 801 shares during the period. Johnson Investment Counsel Inc. increased its stake in Public Service Enterprise Group by 2.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 10,951 shares of the utilities provider’s stock valued at $925,000 after purchasing an additional 230 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Public Service Enterprise Group by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 65,543 shares of the utilities provider’s stock valued at $5,538,000 after purchasing an additional 4,679 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 2.3 %

Shares of PEG stock opened at $81.59 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $63.31 and a 52-week high of $95.22. The company has a 50-day simple moving average of $83.74 and a two-hundred day simple moving average of $85.95.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. This is a boost 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 payout ratio is presently 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $12,245,040.92. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday. Guggenheim reiterated a “buy” rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Finally, Scotiabank raised 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 note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.83.

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.