Ameritas Advisory Services LLC Grows Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ameritas Advisory Services LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 63.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,591 shares of the utilities provider’s stock after acquiring an additional 1,781 shares during the period. Ameritas Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $422,000. DRW Securities LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter worth $8,244,000. Cullen Investment Group LTD. raised its holdings in Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares in the last quarter. Arvest Bank Trust Division bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $2,860,000. Finally, Cerity Partners LLC grew its holdings in Public Service Enterprise Group by 36.1% during the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after acquiring an additional 25,503 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0 %

NYSE:PEG opened at $88.22 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $95.22. The business’s fifty day moving average price is $87.80 and its 200 day moving average price is $84.75. The firm has a market capitalization of $43.95 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 2.89 and a beta of 0.65.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEG. Scotiabank lifted their target price 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. Barclays decreased their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 over the last ninety days. Company 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.