Vontobel Holding Ltd. Acquires Shares of 4,000 Public Service Enterprise Group Incorporated (NYSE:PEG)

Vontobel Holding Ltd. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,000 shares of the utilities provider's stock, valued at approximately $329,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PEG. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock valued at $5,134,882,000 after acquiring an additional 492,517 shares during the period. Geode Capital Management LLC raised its holdings in Public Service Enterprise Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock worth $1,027,725,000 after purchasing an additional 365,666 shares during the period. Invesco Ltd. increased its position in shares of Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after acquiring an additional 604,978 shares in the last quarter. Northern Trust Corp grew its position in Public Service Enterprise Group by 6.1% in the fourth 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. Finally, Norges Bank bought a new position in Public Service Enterprise Group in the fourth quarter valued at $445,005,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded up $0.36 during trading hours on Friday, reaching $82.52. The stock had a trading volume of 1,870,718 shares, compared to its average volume of 2,770,642. The stock's fifty day simple moving average is $80.57 and its 200 day simple moving average is $82.19. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group Incorporated has a 12 month low of $73.72 and a 12 month high of $95.22. The firm has a market capitalization of $41.18 billion, a PE ratio of 22.55, a PEG ratio of 2.92 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (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%. Public Service Enterprise Group's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, June 9th. Public Service Enterprise Group's payout ratio is 68.85%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 1st. Barclays decreased their price target 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. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Hold" and an average price target of $89.38.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer directly 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 through this link. 0.19% of the stock is currently owned by insiders.

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.