Public Service Enterprise Group Incorporated $PEG Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 34.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,551 shares of the utilities provider’s stock after selling 94,218 shares during the quarter. Allianz Asset Management GmbH’s holdings in Public Service Enterprise Group were worth $14,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter worth about $27,000. Finally, GoalVest Advisory LLC grew its holdings in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEG has been the subject of several analyst reports. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research note on Wednesday, January 7th. BTIG Research initiated coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price on the stock. BMO Capital Markets cut their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Barclays lowered their price objective on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Finally, TD Cowen boosted their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Stock Up 1.1%

PEG opened at $80.68 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The stock has a market capitalization of $40.27 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.60 and a beta of 0.59. The business has a 50 day simple moving average of $79.90 and a 200-day simple moving average of $82.15.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.