BI Asset Management Fondsmaeglerselskab A S Acquires 8,449 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 44.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,648 shares of the utilities provider’s stock after purchasing an additional 8,449 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Service Enterprise Group were worth $1,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rockline Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $1,185,000. Allspring Global Investments Holdings LLC raised its position in Public Service Enterprise Group by 4.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after acquiring an additional 17,838 shares during the period. Jennison Associates LLC boosted its stake in Public Service Enterprise Group by 79.9% in the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after acquiring an additional 397,606 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Public Service Enterprise Group by 5,613.8% during the 4th quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock valued at $10,545,000 after acquiring an additional 169,425 shares during the period. Finally, PATRIZIA Pty Ltd purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $5,158,000. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The disclosure for this sale can be found here. Insiders sold a total of 9,322 shares of company stock valued at $607,376 in the last quarter. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Scotiabank dropped their price target on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Bank of America increased their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 27th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, Barclays lifted their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $67.15.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $75.14 on Wednesday. The company has a market cap of $37.43 billion, a PE ratio of 20.81, a P/E/G ratio of 3.25 and a beta of 0.56. The business has a 50 day moving average of $68.04 and a 200 day moving average of $63.70. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $75.17. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm’s revenue was down 26.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.39 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group’s payout ratio is presently 66.48%.

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.