Sumitomo Mitsui Trust Holdings Inc. Purchases 110,235 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,375,387 shares of the utilities provider's stock after buying an additional 110,235 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Public Service Enterprise Group worth $84,105,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $31,000. Clear Street Markets LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $31,000. Operose Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 435.0% during 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 last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $36,000. Finally, CNB Bank bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $34,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 0.1 %

PEG traded up $0.07 during trading on Thursday, hitting $65.10. The company's stock had a trading volume of 2,150,610 shares, compared to its average volume of 2,847,243. The firm's 50 day moving average price is $63.69 and its 200-day moving average price is $61.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. The stock has a market cap of $32.46 billion, a PE ratio of 12.69, a PEG ratio of 2.81 and a beta of 0.58. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $67.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the firm posted $0.64 EPS. Public Service Enterprise Group's revenue was down 17.0% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. Public Service Enterprise Group's dividend payout ratio is presently 46.78%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the business's stock in a transaction on 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 directly owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of the company's stock in a transaction on 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 directly owns 153,721 shares of the company's stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 4,800 shares of the company's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now directly owns 31,122 shares of the company's stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders sold 7,948 shares of company stock valued at $510,300 in the last ninety days. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEG. Evercore ISI lifted their target price on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, April 4th. Morgan Stanley reissued an "overweight" rating and issued a $70.00 price objective (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a report on Wednesday, March 6th. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, March 7th. Finally, BMO Capital Markets dropped their price target on 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.58.

About Public Service Enterprise Group

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.