Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 108,609 shares of the utilities provider's stock after purchasing an additional 8,442 shares during the quarter. Cerity Partners LLC's holdings in Public Service Enterprise Group were worth $8,938,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 worth $1,027,725,000 after acquiring an additional 365,666 shares during the period. Invesco Ltd. boosted its position in shares of Public Service Enterprise Group by 10.2% in the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after acquiring an additional 604,978 shares during the last quarter. Northern Trust Corp grew its holdings in Public Service Enterprise Group by 6.1% in the fourth quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after purchasing an additional 335,135 shares during the period. Finally, Norges Bank acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $445,005,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PEG shares. Evercore ISI decreased their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $86.00 to $97.00 in a research report on Monday, July 7th. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. LADENBURG THALM/SH SH lowered 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 note on Wednesday, March 19th. Finally, Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus price target of $89.86.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,387 shares of the company'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 transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 0.8%

Public Service Enterprise Group stock traded up $0.66 during midday trading on Thursday, hitting $82.83. 2,510,045 shares of the stock were exchanged, compared to its average volume of 2,772,381. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.82 and a quick ratio of 0.65. The company has a 50 day moving average price of $80.81 and a two-hundred day moving average price of $82.10. The firm has a market cap of $41.33 billion, a P/E ratio of 22.63, a P/E/G ratio of 2.93 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 1 year low of $73.72 and a 1 year high of $95.22.

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 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 business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company's revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. 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.