Assenagon Asset Management S.A. Boosts Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Assenagon Asset Management S.A. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 476.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 919,218 shares of the utilities provider's stock after purchasing an additional 759,873 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of Public Service Enterprise Group worth $75,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased 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 worth $5,134,882,000 after purchasing an additional 492,517 shares during the period. Geode Capital Management LLC boosted its position 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 in the last quarter. Invesco Ltd. boosted its position 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 in the last quarter. Northern Trust Corp boosted its position 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 in the last quarter. Finally, Norges Bank bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $445,005,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock traded down $0.67 during trading on Friday, hitting $80.89. 2,446,620 shares of the company traded hands, compared to its average volume of 2,802,753. The stock's 50-day simple moving average is $80.29 and its 200 day simple moving average is $82.92. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $40.36 billion, a PE ratio of 19.87, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $72.25 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the previous year, the business earned $1.31 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group's payout ratio is currently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, April 1st. The stock was 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 approximately $18,372,009.60. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research report on Wednesday, March 19th. Barclays reduced their target price on 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. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI lowered their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and a consensus price target of $89.63.

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.