Illinois Municipal Retirement Fund Has $3.95 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Illinois Municipal Retirement Fund grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 155.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,563 shares of the utilities provider’s stock after buying an additional 39,273 shares during the period. Illinois Municipal Retirement Fund’s holdings in Public Service Enterprise Group were worth $3,948,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 13.0% during the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock worth $3,509,864,000 after purchasing an additional 7,103,657 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Public Service Enterprise Group by 118.1% during the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock worth $77,544,000 after purchasing an additional 738,684 shares during the last quarter. Assetmark Inc. lifted its holdings in Public Service Enterprise Group by 562.8% during the 3rd quarter. Assetmark Inc. now owns 869,856 shares of the utilities provider’s stock worth $49,504,000 after purchasing an additional 738,619 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Public Service Enterprise Group by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock worth $1,879,225,000 after purchasing an additional 726,613 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Public Service Enterprise Group by 1,350.4% during the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock worth $30,353,000 after purchasing an additional 496,581 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the completion of the sale, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock valued at $511,814. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock opened at $67.23 on Thursday. The stock’s 50 day simple moving average is $64.31 and its 200 day simple moving average is $62.18. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $67.51. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.46 and a current ratio of 0.67. The company has a market cap of $33.52 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 2.91 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio is currently 46.78%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays lifted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Guggenheim cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target for the company. in a report on Monday, January 22nd. Scotiabank lowered their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Monday. BMO Capital Markets lowered their price objective on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

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.