Sumitomo Mitsui DS Asset Management Company Ltd Has $5.40 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,587 shares of the utilities provider's stock after buying an additional 5,037 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Public Service Enterprise Group were worth $5,398,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEG. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $376,209,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock worth $169,404,000 after purchasing an additional 1,719,614 shares during the period. Schroder Investment Management Group increased its holdings in Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after purchasing an additional 1,483,662 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Public Service Enterprise Group by 476.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after purchasing an additional 759,873 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's 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 directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research report on Thursday, April 10th. Barclays cut their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Finally, Guggenheim reduced their target price on shares of 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $89.54.

Public Service Enterprise Group Stock Up 0.6%

PEG traded up $0.47 during trading on Thursday, reaching $81.69. 2,018,416 shares of the stock were exchanged, compared to its average volume of 2,774,984. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.65 and a current ratio of 0.82. The stock's 50 day moving average price is $80.42 and its two-hundred day moving average price is $82.31. Public Service Enterprise Group Incorporated has a twelve month low of $73.40 and a twelve month high of $95.22. The stock has a market cap of $40.76 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.97 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting the consensus estimate of $1.43. The company had revenue of $3.22 billion for 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%. Public Service Enterprise Group's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $0.63 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. Public Service Enterprise Group's payout ratio 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.