Livforsakringsbolaget Skandia Omsesidigt Buys 1,600 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 258.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,219 shares of the utilities provider’s stock after acquiring an additional 1,600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Public Service Enterprise Group were worth $183,000 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. Ninepoint Partners LP increased its position in shares of Public Service Enterprise Group by 14.1% during the fourth quarter. Ninepoint Partners LP now owns 14,786 shares of the utilities provider’s stock worth $1,249,000 after acquiring an additional 1,830 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $875,000. Van ECK Associates Corp increased its position in shares of Public Service Enterprise Group by 103.6% during the fourth quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider’s stock worth $80,313,000 after acquiring an additional 483,795 shares in the last quarter. Welch & Forbes LLC increased its position in shares of Public Service Enterprise Group by 171.6% during the fourth quarter. Welch & Forbes LLC now owns 11,170 shares of the utilities provider’s stock worth $944,000 after acquiring an additional 7,058 shares in the last quarter. Finally, Single Point Partners LLC bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $320,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. Barclays decreased their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Bank of America reduced their price objective on shares of 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. Wells Fargo & Company reduced their price objective 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. Finally, Evercore ISI reduced their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus target price of $89.63.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3%

Public Service Enterprise Group stock opened at $79.43 on Wednesday. Public Service Enterprise Group Incorporated has a twelve month low of $71.89 and a twelve month high of $95.22. The firm has a 50 day moving average price of $80.07 and a 200-day moving average price of $83.18. The company has a market capitalization of $39.63 billion, a P/E ratio of 19.52, a P/E/G ratio of 2.78 and a beta of 0.48. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm earned $1.31 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.