Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 62.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,563 shares of the utilities provider's stock after acquiring an additional 3,664 shares during the quarter. Achmea Investment Management B.V.'s holdings in Public Service Enterprise Group were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $25,000. REAP Financial Group LLC raised its stake in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group in the 4th quarter valued at about $39,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $50,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. 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 objective for the company. in a research report on Wednesday, March 19th. Morgan Stanley cut their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Bank of America reduced their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Guggenheim lowered their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Hold" and an average price target of $89.54.

Insider Buying and Selling

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

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $83.71 on Monday. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 2.99 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 12 month low of $73.11 and a 12 month high of $95.22. 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 stock's 50-day moving average is $80.34 and its 200-day moving average is $82.33.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The company's revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share 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. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.01%. Public Service Enterprise Group's dividend payout ratio (DPR) is 68.85%.

Public Service Enterprise Group Company 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.

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