Tokio Marine Asset Management Co. Ltd. Raises Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tokio Marine Asset Management Co. Ltd. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,138 shares of the utilities provider’s stock after acquiring an additional 272 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $1,246,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEG. Townsquare Capital LLC raised its stake in shares of Public Service Enterprise Group by 91.7% in the 4th quarter. Townsquare Capital LLC now owns 9,586 shares of the utilities provider’s stock valued at $810,000 after acquiring an additional 4,585 shares during the period. Mariner LLC grew its holdings in Public Service Enterprise Group by 3.7% during the 4th quarter. Mariner LLC now owns 184,678 shares of the utilities provider’s stock valued at $15,603,000 after purchasing an additional 6,590 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Public Service Enterprise Group by 4.6% during the 4th quarter. CreativeOne Wealth LLC now owns 4,693 shares of the utilities provider’s stock valued at $397,000 after purchasing an additional 208 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Public Service Enterprise Group by 5.4% during the 4th quarter. Belpointe Asset Management LLC now owns 3,416 shares of the utilities provider’s stock valued at $276,000 after purchasing an additional 176 shares in the last quarter. Finally, United Capital Financial Advisors LLC grew its holdings in Public Service Enterprise Group by 2.4% during the 4th quarter. United Capital Financial Advisors LLC now owns 13,220 shares of the utilities provider’s stock valued at $1,117,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $86.82 on Friday. The firm has a market cap of $43.33 billion, a P/E ratio of 21.92, a P/E/G ratio of 3.05 and a beta of 0.45. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The firm has a fifty day moving average of $84.12 and a two-hundred day moving average of $82.26.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.9%. Public Service Enterprise Group’s payout ratio is 63.64%.

Analyst Ratings Changes

A number of research firms recently weighed in on PEG. Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th. Evercore ISI lowered their price target 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. Finally, Guggenheim lowered their price target on shares of 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus price target of $90.95.

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.