Public Service Enterprise Group Incorporated (NYSE:PEG) Position Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 37.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,350 shares of the utilities provider's stock after purchasing an additional 17,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Public Service Enterprise Group were worth $5,352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. lifted its stake in Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after buying an additional 120 shares in the last quarter. Spire Wealth Management lifted its stake in Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock valued at $440,000 after buying an additional 121 shares in the last quarter. United Asset Strategies Inc. lifted its stake in Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock valued at $416,000 after buying an additional 127 shares in the last quarter. Fifth Third Bancorp lifted its stake in Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after buying an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 2.1%

NYSE PEG traded up $1.62 during trading hours on Friday, hitting $78.99. The company had a trading volume of 2,572,133 shares, compared to its average volume of 2,750,858. Public Service Enterprise Group Incorporated has a fifty-two week low of $71.89 and a fifty-two week high of $95.22. The company has a market capitalization of $39.41 billion, a price-to-earnings ratio of 19.41, a P/E/G ratio of 2.78 and a beta of 0.48. 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 firm's 50 day moving average is $80.64 and its 200 day moving average is $83.89.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. The company had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. Sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.63 dividend. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. Public Service Enterprise Group's payout ratio is currently 68.85%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PEG. Barclays cut their price target 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. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Thursday, May 1st. Bank of America cut their price target on 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. BMO Capital Markets cut 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, Guggenheim cut 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. 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. According to MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and an average target price of $89.63.

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.