Farmers & Merchants Trust Co of Chambersburg PA Sells 130 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Farmers & Merchants Trust Co of Chambersburg PA decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,540 shares of the utilities provider’s stock after selling 130 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Public Service Enterprise Group were worth $1,228,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter worth $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth about $48,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $54,000. Finally, Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $56,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,712 shares of company stock worth $317,644. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of several analyst reports. UBS Group upped their target price 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. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 12th. Finally, Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.93 on Friday. Public Service Enterprise Group Incorporated has a one year low of $58.45 and a one year high of $95.22. The company has a market cap of $41.81 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.77 and a beta of 0.64. The firm’s fifty day moving average price is $85.46 and its two-hundred day moving average price is $85.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

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.