Ilmarinen Mutual Pension Insurance Co Increases Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ilmarinen Mutual Pension Insurance Co boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,000 shares of the utilities provider’s stock after purchasing an additional 15,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $7,351,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Public Service Enterprise Group in the fourth quarter worth about $445,005,000. Raymond James Financial Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. Jennison Associates LLC grew its position in Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Public Service Enterprise Group by 604.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock worth $169,404,000 after buying an additional 1,719,614 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Public Service Enterprise Group by 234.1% during the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after buying an additional 1,483,662 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $77.83 on Friday. The stock has a market cap of $38.80 billion, a P/E ratio of 19.12, a PEG ratio of 2.78 and a beta of 0.52. 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 $82.34 and a 200 day moving average price of $86.03. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.24%. Public Service Enterprise Group’s payout ratio is 71.19%.

Analyst Ratings Changes

PEG has been the subject of several research reports. Barclays downgraded Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a report on Wednesday, March 19th. Bank of America cut their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Morgan Stanley raised their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.65.

Insider Activity

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 Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.