AQR Capital Management LLC Acquires 127,642 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

AQR Capital Management LLC grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 62.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332,457 shares of the utilities provider's stock after purchasing an additional 127,642 shares during the period. AQR Capital Management LLC owned about 0.07% of Public Service Enterprise Group worth $28,089,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Wilmington Savings Fund Society FSB raised its stake in Public Service Enterprise Group by 30.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,189 shares of the utilities provider's stock valued at $909,000 after purchasing an additional 2,384 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Public Service Enterprise Group by 26.9% during the 3rd quarter. Tidal Investments LLC now owns 16,306 shares of the utilities provider's stock worth $1,455,000 after acquiring an additional 3,461 shares in the last quarter. Franklin Resources Inc. raised its position in Public Service Enterprise Group by 5.9% during the third quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock valued at $235,194,000 after purchasing an additional 147,903 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Public Service Enterprise Group by 3.1% during the third quarter. Principal Financial Group Inc. now owns 602,574 shares of the utilities provider's stock worth $53,756,000 after purchasing an additional 18,344 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Public Service Enterprise Group by 14.8% in the 4th quarter. GAMMA Investing LLC now owns 6,852 shares of the utilities provider's stock valued at $579,000 after purchasing an additional 881 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.8 %

PEG traded up $1.42 during trading on Tuesday, reaching $79.77. 2,910,398 shares of the stock traded hands, compared to its average volume of 2,722,090. The stock's 50-day moving average is $81.11 and its 200 day moving average is $84.76. Public Service Enterprise Group Incorporated has a 12 month low of $71.49 and a 12 month high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a market capitalization of $39.80 billion, a PE ratio of 19.60, a P/E/G ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts' consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.16%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 68.85%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total transaction of $109,220.28. Following the transaction, the chief executive officer now directly owns 221,093 shares of the company's stock, valued at approximately $17,523,831.18. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Bank of America dropped their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, Evercore ISI dropped their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus target price of $88.81.

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.