Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Holdings Increased by Assetmark Inc.

Assetmark Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 852,313 shares of the utilities provider’s stock after purchasing an additional 15,528 shares during the period. Assetmark Inc. owned about 0.17% of Public Service Enterprise Group worth $72,012,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PEG. Center for Financial Planning Inc. grew its holdings in shares of Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after acquiring an additional 120 shares in the last quarter. Spire Wealth Management grew its stake in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock valued at $440,000 after purchasing an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after purchasing an additional 123 shares during the last quarter. United Asset Strategies Inc. raised its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 127 shares in the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Finally, Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.83.

Public Service Enterprise Group Stock Performance

PEG opened at $81.40 on Wednesday. Public Service Enterprise Group Incorporated has a 12-month low of $63.31 and a 12-month high of $95.22. The firm has a market capitalization of $40.56 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 2.78 and a beta of 0.64. The stock’s 50 day moving average price is $84.62 and its two-hundred day moving average price is $86.09. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced 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. This represents a $2.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.