Sanctuary Advisors LLC Has $6.48 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sanctuary Advisors LLC cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,252 shares of the utilities provider’s stock after selling 16,324 shares during the period. Sanctuary Advisors LLC’s holdings in Public Service Enterprise Group were worth $6,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Foundations Investment Advisors LLC boosted its stake in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock worth $7,403,000 after purchasing an additional 18,627 shares in the last quarter. DRW Securities LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth about $8,244,000. Cullen Investment Group LTD. increased its position in Public Service Enterprise Group by 65.3% in the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $2,860,000. Finally, Parsons Capital Management Inc. RI bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $2,565,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $85.77 on Thursday. 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 Incorporated has a 12-month low of $59.29 and a 12-month high of $95.22. The firm has a fifty day moving average of $85.07 and a 200-day moving average of $85.85. The firm has a market capitalization of $42.73 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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. This represents a $2.52 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday, January 27th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Scotiabank boosted their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five investment 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 stock has a consensus rating of “Moderate Buy” and an average target price of $88.83.

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.