GAM Holding AG Invests $1.60 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

GAM Holding AG bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,458 shares of the utilities provider's stock, valued at approximately $1,601,000.

A number of other hedge funds also recently made changes to their positions in the business. Transce3nd LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $25,000. REAP Financial Group LLC lifted its position in shares of 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 buying an additional 162 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $39,000. Finally, Optiver Holding B.V. bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth $50,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE:PEG traded down $0.36 during mid-day trading on Wednesday, hitting $82.77. 2,787,860 shares of the stock traded hands, compared to its average volume of 2,813,873. The business's 50-day moving average price is $80.34 and its 200 day moving average price is $82.42. 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 company has a market cap of $41.30 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.98 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $72.82 and a 12-month 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, meeting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.31 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.04%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEG shares. Barclays decreased their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Evercore ISI reduced their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $89.54.

Insiders Place Their Bets

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

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.