United Services Automobile Association Raises Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

United Services Automobile Association increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,732 shares of the utilities provider’s stock after buying an additional 588 shares during the period. United Services Automobile Association’s holdings in Public Service Enterprise Group were worth $991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Center for Financial Planning Inc. increased its position in Public Service Enterprise Group by 3.0% during the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares during the period. Spire Wealth Management raised its stake in Public Service Enterprise Group by 2.4% in the fourth quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares in the last quarter. First Commonwealth Financial Corp PA lifted its holdings in Public Service Enterprise Group by 1.3% during the third quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider’s stock worth $842,000 after buying an additional 123 shares during the period. United Asset Strategies Inc. increased its holdings in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 127 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock worth $2,990,000 after acquiring an additional 139 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PEG. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.26 on Tuesday. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market cap of $41.51 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company’s 50 day moving average is $83.48 and its 200 day moving average is $86.11.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.03%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the transaction, the chief executive officer now directly owns 144,212 shares of the company’s stock, valued at $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

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.