Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5,613.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 172,443 shares of the utilities provider’s stock after purchasing an additional 169,425 shares during the quarter. International Assets Investment Management LLC’s holdings in Public Service Enterprise Group were worth $10,545,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Rockline Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter worth $1,185,000. PATRIZIA Pty Ltd acquired a new stake in Public Service Enterprise Group during the 4th quarter worth about $5,158,000. Arvest Investments Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $2,108,000. New York State Teachers Retirement System increased its holdings in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. New York State Teachers Retirement System now owns 542,577 shares of the utilities provider’s stock valued at $33,179,000 after purchasing an additional 18,035 shares during the period. Finally, First National Bank of Mount Dora Trust Investment Services increased its holdings in shares of Public Service Enterprise Group by 97.7% in the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 140,087 shares of the utilities provider’s stock valued at $8,566,000 after purchasing an additional 69,236 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group 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 sale, the senior vice president now owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 152,347 shares in the company, valued at $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,322 shares of company stock worth $607,376. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEG. Evercore ISI lifted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada upped their price objective on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Guggenheim lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a research note on Monday, January 22nd. Scotiabank decreased their target price on shares of 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, BMO Capital Markets cut their price target on 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $70.45 on Monday. The company has a quick ratio of 0.46, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $70.54. The stock’s 50-day moving average price is $65.56 and its 200-day moving average price is $62.63. The stock has a market capitalization of $35.09 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 3.08 and a beta of 0.56.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is presently 66.48%.

About Public Service Enterprise Group

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.