Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 240,096 shares of the utilities provider's stock after acquiring an additional 20,434 shares during the quarter. Russell Investments Group Ltd.'s holdings in Public Service Enterprise Group were worth $14,681,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEG. Addison Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $31,000. Gilliland Jeter Wealth Management LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $356,000. Bryn Mawr Capital Management LLC increased its position in Public Service Enterprise Group by 44.3% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 25,527 shares of the utilities provider's stock worth $1,561,000 after buying an additional 7,837 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $449,000. Finally, Bailard Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $1,055,000. Institutional investors own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEG shares. Morgan Stanley restated an "overweight" rating and set a $70.00 target price (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, March 19th. 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 upped their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, March 7th. Finally, Guggenheim cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 target price for the company. in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.15.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.43 during mid-day trading on Friday, hitting $70.45. 2,393,470 shares of the stock were exchanged, compared to its average volume of 2,748,077. The firm has a 50-day moving average of $65.56 and a two-hundred day moving average of $62.60. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $70.54. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.46 and a current ratio of 0.79. The company has a market cap of $35.09 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 3.06 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the company earned $1.39 EPS. Public Service Enterprise Group's revenue for the quarter was down 26.5% compared to the same quarter last year. On average, equities analysts predict 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. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.41%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 66.48%.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,800 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 value of $308,064.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the firm's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now directly owns 152,347 shares of the company's stock, valued at approximately $10,111,270.39. The disclosure for this sale can be found here. Insiders sold 9,322 shares of company stock valued at $607,376 in the last ninety days. Insiders own 0.57% of the company's stock.

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.