Schonfeld Strategic Advisors LLC Purchases 38,742 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Schonfeld Strategic Advisors LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 417.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,032 shares of the utilities provider's stock after acquiring an additional 38,742 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Public Service Enterprise Group were worth $4,058,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the 4th quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Optiver Holding B.V. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $50,000. Finally, Nemes Rush Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $53,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the transaction, the chief executive officer now owns 221,093 shares of the company's stock, valued at $17,523,831.18. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

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

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

Public Service Enterprise Group Dividend Announcement

The firm 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 dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.16%. Public Service Enterprise Group's dividend payout ratio is currently 68.85%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PEG shares. Evercore ISI reduced their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research note on Wednesday, March 19th. Finally, Bank of America dropped their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $88.81.

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.