IFM Investors Pty Ltd Purchases 15,514 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

IFM Investors Pty Ltd increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,362 shares of the utilities provider's stock after buying an additional 15,514 shares during the quarter. IFM Investors Pty Ltd's holdings in Public Service Enterprise Group were worth $16,982,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its position in Public Service Enterprise Group by 5.5% during the first quarter. OneDigital Investment Advisors LLC now owns 15,165 shares of the utilities provider's stock valued at $1,248,000 after purchasing an additional 788 shares during the last quarter. Calamos Advisors LLC boosted its position in Public Service Enterprise Group by 1.1% during the first quarter. Calamos Advisors LLC now owns 139,111 shares of the utilities provider's stock valued at $11,449,000 after purchasing an additional 1,549 shares during the last quarter. Sterling Financial Planning Inc. acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $283,000. Checchi Capital Advisers LLC boosted its position in Public Service Enterprise Group by 3.4% during the first quarter. Checchi Capital Advisers LLC now owns 7,629 shares of the utilities provider's stock valued at $628,000 after purchasing an additional 251 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in Public Service Enterprise Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock valued at $3,523,000 after purchasing an additional 130 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction 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 transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE PEG traded up $1.13 during midday trading on Monday, hitting $82.30. The company had a trading volume of 2,275,592 shares, compared to its average volume of 2,780,421. The company has a market capitalization of $41.07 billion, a PE ratio of 22.49, a P/E/G ratio of 2.91 and a beta of 0.48. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $80.43 and a 200-day moving average price of $82.24. Public Service Enterprise Group Incorporated has a twelve month low of $73.72 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.31 EPS. As a group, analysts anticipate 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 firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.63 dividend. The ex-dividend date was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.06%. Public Service Enterprise Group's payout ratio is 68.85%.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $86.00 to $97.00 in a research report on Monday. BMO Capital Markets reduced their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley reduced their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $89.46.

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.