Farmers Trust Co. Sells 2,402 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Farmers Trust Co. cut its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,644 shares of the utilities provider’s stock after selling 2,402 shares during the quarter. Farmers Trust Co.’s holdings in Public Service Enterprise Group were worth $3,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Public Service Enterprise Group by 7.2% during the second quarter. D.A. Davidson & CO. now owns 9,429 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 637 shares during the period. FMR LLC raised its holdings in shares of Public Service Enterprise Group by 20.2% during the second quarter. FMR LLC now owns 2,605,260 shares of the utilities provider’s stock worth $112,051,000 after purchasing an additional 438,684 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Public Service Enterprise Group by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 911,146 shares of the utilities provider’s stock worth $39,188,000 after purchasing an additional 14,037 shares during the period. Voya Investment Management LLC raised its holdings in shares of Public Service Enterprise Group by 7.0% during the second quarter. Voya Investment Management LLC now owns 336,075 shares of the utilities provider’s stock worth $14,455,000 after purchasing an additional 22,109 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Public Service Enterprise Group by 17.3% during the second quarter. Stifel Financial Corp now owns 256,499 shares of the utilities provider’s stock worth $11,023,000 after purchasing an additional 37,910 shares during the period. Hedge funds and other institutional investors own 66.40% of the company’s stock.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $51.25, for a total transaction of $1,067,691.25. Following the sale, the chairman now owns 645,934 shares in the company, valued at $33,104,117.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction on Friday, November 17th. The stock was sold at an average price of $51.50, for a total transaction of $112,527.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,684 shares of company stock worth $3,344,767. 0.61% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Inc. (NYSE:PEG) opened at $47.62 on Tuesday. Public Service Enterprise Group Inc. has a 52-week low of $41.67 and a 52-week high of $53.28. The company has a market cap of $23,905.27, a P/E ratio of 16.29, a PEG ratio of 4.46 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56.

A number of analysts recently weighed in on PEG shares. Guggenheim reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. ValuEngine raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Argus raised their target price on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Finally, Mizuho cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and an average price target of $51.46.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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