Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,472 shares of the utilities provider’s stock after purchasing an additional 2,947 shares during the period. iA Global Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $1,561,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PEG. Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider’s stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC increased its position in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $376,209,000. Jennison Associates LLC increased its position in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after acquiring an additional 1,882,667 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider’s stock valued at $256,012,000 after acquiring an additional 78,452 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on PEG. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim reaffirmed a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Scotiabank increased their price target 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 downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.00 on Friday. 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 Incorporated has a fifty-two week low of $64.03 and a fifty-two week high of $95.22. The firm has a 50-day simple moving average of $83.50 and a 200 day simple moving average of $86.02. The company has a market cap of $41.38 billion, a PE ratio of 20.39, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is currently 71.19%.

Public Service Enterprise Group 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.