Generali Asset Management SPA SGR Acquires New Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Generali Asset Management SPA SGR acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,834 shares of the utilities provider’s stock, valued at approximately $2,859,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Foundations Investment Advisors LLC boosted its holdings in Public Service Enterprise Group by 27.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after acquiring an additional 18,627 shares during the period. DRW Securities LLC purchased a new position in Public Service Enterprise Group during the 3rd quarter valued at about $8,244,000. Cullen Investment Group LTD. boosted its holdings in Public Service Enterprise Group by 65.3% during the 4th quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after acquiring an additional 10,610 shares during the period. Arvest Bank Trust Division purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth about $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $2,565,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $83.21 on Thursday. The stock’s 50-day moving average is $83.57 and its two-hundred day moving average is $86.02. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $63.54 and a 1 year high of $95.22. 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 issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $0.54 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.03%. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Bank of America cut their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Scotiabank upped their price target on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a report on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.27.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is owned by 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.