AE Wealth Management LLC Acquires 59,636 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

AE Wealth Management LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 27.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,484 shares of the utilities provider's stock after buying an additional 59,636 shares during the quarter. AE Wealth Management LLC owned about 0.06% of Public Service Enterprise Group worth $22,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEG. Transce3nd LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $25,000. REAP Financial Group LLC boosted its stake in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $50,000. Finally, Nemes Rush Group LLC acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $53,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.73 during trading on Friday, reaching $87.66. 1,917,995 shares of the stock were exchanged, compared to its average volume of 2,360,661. Public Service Enterprise Group Incorporated has a twelve month low of $74.20 and a twelve month high of $95.22. The company has a market capitalization of $43.74 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 3.11 and a beta of 0.48. The stock has a 50 day simple moving average of $81.79 and a 200-day simple moving average of $82.12. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the company posted $1.31 EPS. Public Service Enterprise Group's revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 68.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PEG shares. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays decreased their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. BMO Capital Markets raised their target price on Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a "market perform" rating in a research report on Tuesday. Guggenheim reduced their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and a consensus price target of $90.50.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.