Lionshead Wealth Management LLC Invests $4.45 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Lionshead Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 52,672 shares of the utilities provider's stock, valued at approximately $4,450,000. Public Service Enterprise Group accounts for about 3.2% of Lionshead Wealth Management LLC's holdings, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEG. Transce3nd LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $35,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Finally, Optiver Holding B.V. bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PEG has been the topic of several research analyst reports. Barclays decreased their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Guggenheim decreased their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Evercore ISI cut their price target on 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 lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective on the stock. in a report on Wednesday, March 19th. Finally, BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $88.81.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $1.16 on Thursday, reaching $78.45. The company's stock had a trading volume of 3,689,492 shares, compared to its average volume of 2,723,001. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The company has a market cap of $39.15 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.78 and a beta of 0.48. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The business's fifty day moving average price is $80.86 and its 200 day moving average price is $84.29.

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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 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.