Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,197 shares of the utilities provider's stock after purchasing an additional 32,697 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.07% of Public Service Enterprise Group worth $27,916,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $445,005,000. Raymond James Financial Inc. acquired a new stake in Public Service Enterprise Group during the fourth quarter worth about $376,209,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings 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 worth $169,404,000 after acquiring an additional 1,719,614 shares during the last quarter. Schroder Investment Management Group lifted its holdings 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 worth $178,900,000 after acquiring an additional 1,483,662 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted 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 acquiring an additional 759,873 shares during the period. Institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research reports. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Guggenheim dropped their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Barclays cut 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 note on Tuesday, April 8th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a research report on Wednesday, March 19th. Finally, Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.32 on Thursday, hitting $83.07. The company's stock had a trading volume of 2,383,728 shares, compared to its average volume of 2,812,176. Public Service Enterprise Group Incorporated has a 12 month low of $72.82 and a 12 month high of $95.22. The company has a market capitalization of $41.45 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. The stock's 50-day moving average is $80.33 and its two-hundred day moving average is $82.43. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.03%. Public Service Enterprise Group's payout ratio is 68.85%.

Public Service Enterprise Group 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.