The Manufacturers Life Insurance Company Has $65.58 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

The Manufacturers Life Insurance Company lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,186 shares of the utilities provider's stock after selling 49,888 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.16% of Public Service Enterprise Group worth $65,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $445,005,000. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group during the 4th quarter worth about $376,209,000. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after purchasing an additional 1,882,667 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider's stock valued at $169,404,000 after purchasing an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of Public Service Enterprise Group by 234.1% in the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider's stock valued at $178,900,000 after purchasing an additional 1,483,662 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PEG shares. Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Bank of America reduced their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Wells Fargo & Company lowered their price target 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, Guggenheim reduced their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $88.81.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.86 during midday trading on Friday, reaching $79.52. 2,203,339 shares of the company were exchanged, compared to its average volume of 2,714,129. Public Service Enterprise Group Incorporated has a one year low of $69.71 and a one year high of $95.22. The firm has a market capitalization of $39.65 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The business has a 50-day moving average price of $81.20 and a two-hundred day moving average price of $84.91. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting the consensus estimate 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 net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group's revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, June 9th. This represents a $2.52 annualized dividend and a yield of 3.17%. Public Service Enterprise Group's payout ratio is currently 71.19%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares of the company's stock, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 4,134 shares of company stock worth $337,941 in the last ninety days. 0.19% of the stock is owned by company insiders.

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.