Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 240,096 shares of the utilities provider’s stock after buying an additional 20,434 shares during the period. Russell Investments Group Ltd.’s holdings in Public Service Enterprise Group were worth $14,681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of PEG. Operose Advisors LLC grew its stake in Public Service Enterprise Group by 435.0% during the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock worth $30,000 after buying an additional 435 shares during the last quarter. Addison Advisors LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $31,000. CNB Bank acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at about $36,000. Finally, Anchor Investment Management LLC acquired a new position in Public Service Enterprise Group during the 4th quarter valued at about $37,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

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 shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, 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 SEC, which is available at this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s 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 completion of the sale, the chief executive officer now owns 152,347 shares in the company, valued at $10,111,270.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,322 shares of company stock valued at $607,376. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Bank of America increased their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. TheStreet raised shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. Barclays increased their price target on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Scotiabank decreased their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, Guggenheim lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $70.45 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $70.54. The stock has a market capitalization of $35.09 billion, a PE ratio of 19.52, a PEG ratio of 3.06 and a beta of 0.56. The firm has a 50 day moving average of $65.36 and a 200-day moving average of $62.54.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $1.39 EPS. Public Service Enterprise Group’s revenue for the quarter was down 26.5% on a year-over-year basis. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

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.