Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,730 shares of the utilities provider’s stock after selling 1,223 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Public Service Enterprise Group were worth $1,836,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in shares of Public Service Enterprise Group by 16.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock worth $931,000 after acquiring an additional 1,453 shares in the last quarter. Cerity Partners LLC raised its holdings in Public Service Enterprise Group by 36.1% in the 3rd quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock worth $8,575,000 after purchasing an additional 25,503 shares during the period. Daiwa Securities Group Inc. grew its holdings in Public Service Enterprise Group by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 60,864 shares of the utilities provider’s stock valued at $5,430,000 after purchasing an additional 6,651 shares during the period. Fisher Asset Management LLC grew its holdings in Public Service Enterprise Group by 4.0% in the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock valued at $655,000 after purchasing an additional 283 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Public Service Enterprise Group by 307.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,674 shares of the utilities provider’s stock valued at $417,000 after buying an additional 3,526 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $81.48 on Thursday. 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 50-day moving average price of $83.31 and a 200 day moving average price of $86.09. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The stock has a market cap of $40.62 billion, a P/E ratio of 20.02, a PEG ratio of 2.78 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Bank of America cut their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Morgan Stanley raised their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim reiterated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

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.