Mirae Asset Global Investments Co. Ltd. Has $4.68 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,485 shares of the utilities provider’s stock after selling 9,492 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Public Service Enterprise Group were worth $4,677,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PEG. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Public Service Enterprise Group by 259.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider’s stock worth $275,973,000 after purchasing an additional 3,252,500 shares during the last quarter. Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter worth $141,476,000. Prudential Financial Inc. raised its position in Public Service Enterprise Group by 196.2% during the 1st quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider’s stock worth $132,451,000 after purchasing an additional 1,253,283 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Public Service Enterprise Group during the 1st quarter worth $74,050,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the transaction, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the transaction, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,948 shares of company stock worth $510,300. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. BMO Capital Markets lowered their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research report on Tuesday, February 27th. Bank of America raised their target price on 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. Barclays lifted their price objective on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $67.58.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $65.20 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $53.71 and a one year high of $67.51. The firm has a market capitalization of $32.51 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.88 and a beta of 0.58. The business has a 50-day simple moving average of $63.33 and a 200 day simple moving average of $61.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same period in the previous year, the company posted $0.64 EPS. The firm’s revenue was down 17.0% compared to the same quarter last year. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.68%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.57. Public Service Enterprise Group’s payout ratio is 46.78%.

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.