Vontobel Holding Ltd. Invests $329,000 in Public Service Enterprise Group Incorporated (NYSE:PEG)

Vontobel Holding Ltd. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,000 shares of the utilities provider's stock, valued at approximately $329,000.

Several other large investors have also recently bought and sold shares of PEG. Vanguard Group Inc. boosted 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 3.1% during 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 buying an additional 365,666 shares during the period. Invesco Ltd. lifted its position in Public Service Enterprise Group by 10.2% in the fourth 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 during the period. Northern Trust Corp lifted 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 during the period. Finally, Norges Bank acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at about $445,005,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated 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 owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Evercore ISI dropped 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 report on Thursday, May 1st. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a research note on Thursday, April 10th. Guggenheim lowered their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Hold" and an average price target of $89.46.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $82.30 on Tuesday. 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 one year low of $73.72 and a one year high of $95.22. The company's 50-day simple moving average is $80.46 and its 200-day simple moving average is $82.22. The stock has a market capitalization of $41.07 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.91 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 17.01% and a return on equity of 11.80%. The business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter last year, the company posted $1.31 earnings per share. The company's quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued 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 yield of 3.06%. Public Service Enterprise Group's dividend payout ratio is currently 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.

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