Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1,167.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 240,591 shares of the utilities provider's stock after buying an additional 221,613 shares during the period. Assenagon Asset Management S.A.'s holdings in Public Service Enterprise Group were worth $14,712,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PEG. Union Savings Bank purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth $28,000. ICA Group Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $31,000. Clear Street Markets LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $31,000. Operose Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 435.0% in the 3rd quarter. Operose Advisors LLC now owns 535 shares of the utilities provider's stock worth $30,000 after acquiring an additional 435 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at about $36,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, December 1st. Guggenheim cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 target price for the company. in a report on Monday, January 22nd. Bank of America boosted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a "market perform" rating for the company in a research note on Tuesday, February 27th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $70.00 target price (up from $61.00) on shares of Public Service Enterprise Group in a research report on Monday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.38.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at approximately $1,997,409.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Richard T. Thigpen sold 4,800 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares of the company's stock, valued at approximately $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at $9,684,423. The disclosure for this sale can be found here. Insiders sold 6,574 shares of company stock worth $419,108 in the last 90 days. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 0.2 %

Shares of Public Service Enterprise Group stock traded up $0.13 during mid-day trading on Friday, hitting $66.78. 3,051,423 shares of the stock were exchanged, compared to its average volume of 3,347,285. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 2.91 and a beta of 0.57. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.02. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The company has a 50-day simple moving average of $61.31 and a 200 day simple moving average of $61.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the business earned $0.64 earnings per share. Public Service Enterprise Group's revenue was down 17.0% compared to the same quarter last year. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 8th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.59%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, March 7th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 46.78%.

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.