Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 77.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,833 shares of the utilities provider’s stock after selling 19,801 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Public Service Enterprise Group were worth $493,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $35,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $59,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PEG shares. UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Scotiabank increased their price target 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. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.82 on Friday. The firm has a market capitalization of $41.76 billion, a P/E ratio of 20.59, a PEG ratio of 2.82 and a beta of 0.64. Public Service Enterprise Group Incorporated has a one year low of $59.29 and a one year high of $95.22. The company’s fifty day moving average is $84.99 and its two-hundred day moving average is $85.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

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 paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 58.97%.

Insider Transactions 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 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 transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $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 available through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

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.