Allianz Asset Management GmbH Sells 38,445 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Allianz Asset Management GmbH decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,119,045 shares of the utilities provider's stock after selling 38,445 shares during the quarter. Allianz Asset Management GmbH owned 0.22% of Public Service Enterprise Group worth $92,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEG. Norges Bank acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $445,005,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after buying an additional 1,719,614 shares during the period. Schroder Investment Management Group lifted its stake in Public Service Enterprise Group by 234.1% in the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock valued at $178,900,000 after buying an additional 1,483,662 shares during the period. Assenagon Asset Management S.A. lifted its stake in Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after buying an additional 759,873 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Public Service Enterprise Group by 151.2% during the fourth quarter. Russell Investments Group Ltd. now owns 1,064,829 shares of the utilities provider's stock worth $89,967,000 after purchasing an additional 640,949 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.2%

Shares of NYSE:PEG traded up $0.18 during mid-day trading on Friday, reaching $87.11. 393,781 shares of the stock were exchanged, compared to its average volume of 2,904,809. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The stock's 50 day simple moving average is $81.62 and its 200-day simple moving average is $82.11. The company has a market cap of $43.47 billion, a P/E ratio of 23.81, a P/E/G ratio of 3.10 and a beta of 0.48. Public Service Enterprise Group Incorporated has a one year low of $74.20 and a one year high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.89%. Public Service Enterprise Group's dividend payout ratio is 68.85%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value 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 trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEG. BMO Capital Markets raised their price target 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. Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. 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 dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $86.00 to $97.00 in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $89.95.

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.