Nordea Investment Management AB Has $186.87 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nordea Investment Management AB decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 41.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,062,897 shares of the utilities provider's stock after selling 2,201,271 shares during the period. Nordea Investment Management AB owned about 0.61% of Public Service Enterprise Group worth $186,867,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PEG. JPMorgan Chase & Co. boosted its position in Public Service Enterprise Group by 38.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 32,294,384 shares of the utilities provider's stock valued at $2,021,951,000 after buying an additional 9,017,393 shares during the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider's stock worth $3,509,864,000 after buying an additional 7,103,657 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in Public Service Enterprise Group by 259.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,504,200 shares of the utilities provider's stock worth $275,973,000 after buying an additional 3,252,500 shares during the period. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $141,476,000. Finally, Prudential Financial Inc. raised its stake in shares of Public Service Enterprise Group by 196.2% in the 1st quarter. Prudential Financial Inc. now owns 1,892,166 shares of the utilities provider's stock valued at $132,451,000 after purchasing an additional 1,253,283 shares during the period. Institutional investors and hedge funds own 72.28% of the company's stock.

Public Service Enterprise Group Trading Up 0.4 %

Shares of Public Service Enterprise Group stock traded up $0.25 during trading on Monday, hitting $64.03. The company's stock had a trading volume of 2,529,220 shares, compared to its average volume of 2,870,379. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 52 week low of $53.71 and a 52 week high of $65.59. The stock has a market cap of $31.92 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 3.53 and a beta of 0.57. The stock has a 50-day moving average price of $60.52 and a two-hundred day moving average price of $60.93.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. The company had revenue of $2.61 billion for the quarter, compared to analysts' expectations of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. Public Service Enterprise Group's revenue for the quarter was down 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.75%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.57. Public Service Enterprise Group's dividend payout ratio is 46.78%.

Analyst Ratings Changes

PEG has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Public Service Enterprise Group from $61.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, November 21st. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, March 7th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a research report on Tuesday, February 27th. Guggenheim downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price target for the company. in a research report on Monday, January 22nd. Finally, Barclays boosted their price objective on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $64.55.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares in the company, valued at approximately $1,997,409.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,574 shares of company stock valued at $418,428. 0.57% of the stock is currently owned by insiders.

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.