GF Fund Management CO. LTD. Buys Shares of 70,586 Public Service Enterprise Group Incorporated (NYSE:PEG)

GF Fund Management CO. LTD. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 70,586 shares of the utilities provider’s stock, valued at approximately $5,964,000.

Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in shares of Public Service Enterprise Group by 2.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 194,130 shares of the utilities provider’s stock valued at $16,402,000 after acquiring an additional 4,142 shares during the last quarter. Vise Technologies Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $379,000. Cornerstone Advisory LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $212,000. Inspire Trust Co. N.A. increased its holdings in shares of Public Service Enterprise Group by 14.3% in the 4th quarter. Inspire Trust Co. N.A. now owns 16,000 shares of the utilities provider’s stock valued at $1,352,000 after acquiring an additional 2,000 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Public Service Enterprise Group by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider’s stock valued at $337,709,000 after acquiring an additional 542,671 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 2.1%

NYSE:PEG opened at $78.99 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $71.89 and a 1 year high of $95.22. The stock has a market cap of $39.41 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.78 and a beta of 0.48. The business has a fifty day moving average of $80.64 and a 200-day moving average of $83.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. Public Service Enterprise Group’s payout ratio is 68.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEG. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Evercore ISI lowered their price target on 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. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Guggenheim lowered their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Bank of America lowered their price target on 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus target price of $89.63.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $79.26, for a total value of $109,220.28. Following the completion of the sale, the chief executive officer now owns 221,093 shares in the company, valued at $17,523,831.18. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.