Man Group plc Grows Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Man Group plc increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 57.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 374,556 shares of the utilities provider's stock after buying an additional 136,797 shares during the quarter. Man Group plc owned about 0.08% of Public Service Enterprise Group worth $31,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedmont Private Capital grew its holdings in Public Service Enterprise Group by 11.9% in the fourth quarter. Wedmont Private Capital now owns 6,112 shares of the utilities provider's stock worth $515,000 after purchasing an additional 649 shares during the period. Accurate Wealth Management LLC lifted its position in Public Service Enterprise Group by 6.6% in the fourth quarter. Accurate Wealth Management LLC now owns 5,193 shares of the utilities provider's stock worth $438,000 after buying an additional 322 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $854,000. Fifth Third Wealth Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 6.0% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 4,248 shares of the utilities provider's stock valued at $359,000 after acquiring an additional 242 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Public Service Enterprise Group by 44.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 159,345 shares of the utilities provider's stock valued at $13,463,000 after buying an additional 49,105 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at $18,372,009.60. The trade was a 0.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Up 0.6%

PEG stock traded up $0.47 during mid-day trading on Monday, reaching $79.76. 3,010,178 shares of the stock traded hands, compared to its average volume of 2,736,536. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market cap of $39.80 billion, a P/E ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $71.89 and a 52-week high of $95.22. The stock's fifty day moving average is $80.87 and its 200-day moving average is $84.08.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts' consensus estimates of $1.43. The firm 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 19.48% and a return on equity of 10.70%. The business's revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 68.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. Evercore ISI reduced 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 note on Thursday, May 1st. Bank of America reduced their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $88.81.

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.