Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 557.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,855 shares of the utilities provider's stock after buying an additional 162,658 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Public Service Enterprise Group were worth $16,929,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after purchasing an additional 604,978 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Public Service Enterprise Group by 6.1% in the 4th 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 in the last quarter. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Finally, Capital Research Global Investors boosted its stake in shares of Public Service Enterprise Group by 0.3% in the 4th quarter. Capital Research Global Investors now owns 4,756,965 shares of the utilities provider's stock valued at $401,916,000 after purchasing an additional 15,332 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on PEG. Guggenheim reduced their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Finally, BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the company a "market perform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $90.50.
View Our Latest Stock Analysis on Public Service Enterprise Group
Public Service Enterprise Group Stock Up 0.8%
Public Service Enterprise Group stock traded up $0.73 during mid-day trading on Friday, reaching $87.66. The stock had a trading volume of 1,917,995 shares, compared to its average volume of 2,360,661. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.20 and a fifty-two week high of $95.22. The stock's 50-day simple moving average is $81.79 and its 200-day simple moving average is $82.10. The firm has a market capitalization of $43.74 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 3.14 and a beta of 0.48.
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 EPS for the quarter, meeting analysts' consensus estimates of $1.43. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. The firm had revenue of $3.22 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.87%. Public Service Enterprise Group's payout ratio is 68.85%.
Insider Activity
In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group 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 transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.
Public Service Enterprise Group Company Profile
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Free Report)
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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