Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Aviva PLC

Aviva PLC boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,027,470 shares of the utilities provider’s stock after purchasing an additional 67,147 shares during the period. Aviva PLC owned approximately 0.21% of Public Service Enterprise Group worth $86,811,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group in the 4th quarter valued at about $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $39,000. Nemes Rush Group LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $53,000. Stonebridge Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth approximately $54,000. Finally, Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $56,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 4.6 %

NYSE:PEG opened at $77.83 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $82.34 and a 200-day simple moving average of $86.02. The company has a market capitalization of $38.80 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.63 dividend. 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 dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 71.19%.

Analysts Set New Price Targets

Several brokerages have issued reports on PEG. StockNews.com raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Barclays cut shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank raised their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.