Los Angeles Capital Management LLC Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Los Angeles Capital Management LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1,846.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 97,884 shares of the utilities provider's stock after purchasing an additional 92,854 shares during the period. Los Angeles Capital Management LLC's holdings in Public Service Enterprise Group were worth $5,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Public Service Enterprise Group by 2.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 158,563 shares of the utilities provider's stock valued at $9,024,000 after acquiring an additional 4,496 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Public Service Enterprise Group by 17.2% in the third quarter. Stratos Wealth Partners LTD. now owns 5,249 shares of the utilities provider's stock valued at $299,000 after purchasing an additional 771 shares in the last quarter. Independent Advisor Alliance increased its stake in Public Service Enterprise Group by 28.5% in the 3rd quarter. Independent Advisor Alliance now owns 7,947 shares of the utilities provider's stock valued at $452,000 after buying an additional 1,762 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in Public Service Enterprise Group by 2.6% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 243,817 shares of the utilities provider's stock worth $13,876,000 after buying an additional 6,200 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Public Service Enterprise Group by 40.0% during the 3rd quarter. Lindbrook Capital LLC now owns 1,067 shares of the utilities provider's stock worth $61,000 after buying an additional 305 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of 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 this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is available at 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 transaction, the senior vice president now 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 have sold 9,322 shares of company stock valued at $607,376 over the last three months. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.43 during midday trading on Friday, reaching $70.45. The company's stock had a trading volume of 2,393,470 shares, compared to its average volume of 2,748,077. The company has a market cap of $35.09 billion, a P/E ratio of 19.52, a P/E/G ratio of 3.08 and a beta of 0.56. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two 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 business's 50 day moving average price is $65.56 and its two-hundred day moving average price is $62.63.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.01). The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The business's revenue was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.39 earnings per share. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. Public Service Enterprise Group's dividend payout ratio is 66.48%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PEG shares. TheStreet raised Public Service Enterprise Group from a "c+" rating to a "b-" rating in a research report on Wednesday, March 6th. Evercore ISI increased their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, April 4th. Guggenheim downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $61.00 price objective for the company. in a research report on Monday, January 22nd. Barclays boosted their target price on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an "overweight" rating in a report on Monday, April 15th. Finally, Bank of America raised their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the company a "buy" rating in a report on Friday, March 22nd. One 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's stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average price target of $67.15.

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.