Certuity LLC Sells 519 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Certuity LLC cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,724 shares of the utilities provider’s stock after selling 519 shares during the quarter. Certuity LLC’s holdings in Public Service Enterprise Group were worth $315,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group in the third quarter worth approximately $35,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $48,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $54,000. Finally, Financial Life Planners bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $56,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PEG shares. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group boosted their target price on 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. Scotiabank raised their price target 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. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Finally, Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.82 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. The firm’s fifty day simple moving average is $85.62 and its 200 day simple moving average is $85.66. The stock has a market cap of $41.76 billion, a P/E ratio of 20.59, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Public Service Enterprise Group Incorporated has a twelve month low of $57.40 and a twelve month high of $95.22.

Public Service Enterprise Group Increases Dividend

The business 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 is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date 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 payout ratio is presently 58.97%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,712 shares of company stock worth $317,644 over the last 90 days. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Company 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.