Victory Capital Management Inc. Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Victory Capital Management Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 658,550 shares of the utilities provider's stock after purchasing an additional 148,604 shares during the period. Victory Capital Management Inc. owned 0.13% of Public Service Enterprise Group worth $54,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Transce3nd LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $25,000. REAP Financial Group LLC increased its holdings 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 acquiring an additional 162 shares during the last quarter. Optiver Holding B.V. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $50,000. Finally, Nemes Rush Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $53,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 report on Thursday, July 10th. UBS Group upgraded shares of Public Service Enterprise Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $86.00 to $97.00 in a report on Monday, July 7th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a report on Thursday, April 10th. 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 report on Thursday, May 1st. Finally, Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $89.86.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Up 1.9%

Public Service Enterprise Group stock traded up $1.56 during trading hours on Friday, hitting $84.31. The company had a trading volume of 3,009,323 shares, compared to its average volume of 2,774,131. The firm has a market cap of $42.07 billion, a P/E ratio of 23.04, a P/E/G ratio of 3.02 and a beta of 0.48. 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 1 year low of $73.83 and a 1 year high of $95.22. The company has a 50-day moving average price of $80.98 and a two-hundred day moving average price of $82.08.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. The business had revenue of $3.22 billion during 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%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. On average, sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.99%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

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.