Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by APG Asset Management N.V.

APG Asset Management N.V. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 600.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,504 shares of the utilities provider’s stock after purchasing an additional 256,724 shares during the period. APG Asset Management N.V. owned about 0.06% of Public Service Enterprise Group worth $24,438,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PEG. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider’s stock worth $5,134,882,000 after acquiring an additional 492,517 shares during the period. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider’s stock valued at $1,027,725,000 after purchasing an additional 365,666 shares during the period. Invesco Ltd. raised its holdings in shares of Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider’s stock valued at $551,323,000 after buying an additional 604,978 shares during the last quarter. Norges Bank acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $445,005,000. Finally, Raymond James Financial Inc. bought a new position in Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PEG. Scotiabank raised their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note 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 report on Wednesday, February 26th. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Guggenheim reaffirmed a “buy” rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.58.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.07 on Thursday. The stock has a 50 day simple moving average of $82.01 and a 200 day simple moving average of $85.81. 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 debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market capitalization of $40.92 billion, a PE ratio of 20.16, a P/E/G ratio of 2.78 and a beta of 0.52.

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

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. The ex-dividend date was Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a dividend yield of 3.07%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares of the company’s stock, valued at $18,372,009.60. The trade was a 0.62 % 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. 0.19% of the stock is owned by company insiders.

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.