Key Financial Inc Has $432,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Financial Inc raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 187.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,065 shares of the utilities provider’s stock after buying an additional 4,611 shares during the period. Key Financial Inc’s holdings in Public Service Enterprise Group were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Public Service Enterprise Group by 7.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 160,891 shares of the utilities provider’s stock worth $9,838,000 after purchasing an additional 10,813 shares during the period. SVB Wealth LLC grew its stake in Public Service Enterprise Group by 12.6% in the fourth quarter. SVB Wealth LLC now owns 5,740 shares of the utilities provider’s stock valued at $351,000 after purchasing an additional 641 shares in the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Public Service Enterprise Group by 1.6% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 16,654 shares of the utilities provider’s stock worth $1,018,000 after purchasing an additional 259 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Public Service Enterprise Group by 47.5% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 12,930 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 4,166 shares during the last quarter. Finally, River Street Advisors LLC increased its position in shares of Public Service Enterprise Group by 3.2% during the 4th quarter. River Street Advisors LLC now owns 13,341 shares of the utilities provider’s stock worth $816,000 after purchasing an additional 419 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays boosted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Royal Bank of Canada boosted their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Morgan Stanley reissued an “overweight” rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Finally, BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.58.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now owns 153,721 shares in the company, valued at approximately $9,684,423. The disclosure for this sale can be found here. Insiders sold a total of 7,948 shares of company stock valued at $510,300 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.75 during trading on Wednesday, reaching $65.03. 2,140,637 shares of the company traded hands, compared to its average volume of 2,856,567. The company’s 50 day moving average is $63.43 and its two-hundred day moving average is $61.80. The firm has a market capitalization of $32.42 billion, a PE ratio of 12.69, a PEG ratio of 2.85 and a beta of 0.58. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the company earned $0.64 EPS. Public Service Enterprise Group’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.69%. Public Service Enterprise Group’s payout ratio is presently 46.78%.

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.