Nuveen Asset Management LLC Has $118.86 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nuveen Asset Management LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,406,809 shares of the utilities provider's stock after acquiring an additional 73,742 shares during the quarter. Nuveen Asset Management LLC owned 0.28% of Public Service Enterprise Group worth $118,861,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth about $376,209,000. Jennison Associates LLC lifted its position in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after buying an additional 1,882,667 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Public Service Enterprise Group by 604.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock worth $169,404,000 after buying an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock worth $178,900,000 after buying an additional 1,483,662 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

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 Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. The trade was a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 0.5%

Shares of NYSE:PEG traded down $0.41 during mid-day trading on Tuesday, reaching $79.36. 2,810,517 shares of the company's stock were exchanged, compared to its average volume of 2,736,832. The firm has a market capitalization of $39.60 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.78 and a beta of 0.48. The business's fifty day moving average price is $80.88 and its 200-day moving average price is $84.03. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.18%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. BMO Capital Markets cut their price target on shares of 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. Guggenheim dropped 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. Bank of America dropped their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. 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 on the stock. in a report on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $88.81.

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.