Deutsche Bank AG Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Deutsche Bank AG boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,452,633 shares of the utilities provider's stock after purchasing an additional 165,375 shares during the period. Deutsche Bank AG owned approximately 0.29% of Public Service Enterprise Group worth $122,733,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Public Service Enterprise Group by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock valued at $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Geode Capital Management LLC boosted its stake in Public Service Enterprise Group by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after acquiring an additional 365,666 shares during the last quarter. Invesco Ltd. boosted its stake in Public Service Enterprise Group by 10.2% during the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after acquiring an additional 604,978 shares during the last quarter. Northern Trust Corp boosted its stake in Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after acquiring an additional 335,135 shares during the last quarter. Finally, Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter valued at $445,005,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEG. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Evercore ISI cut their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Barclays cut their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average price target of $88.81.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.34 during midday trading on Wednesday, hitting $77.25. 3,171,067 shares of the company's stock were exchanged, compared to its average volume of 2,719,134. The company has a market cap of $38.55 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.78 and a beta of 0.48. The business's fifty day moving average price is $80.90 and its two-hundred day moving average price is $84.34. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12-month low of $71.89 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 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 Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is presently 68.85%.

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.