Achmea Investment Management B.V. Trims Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Achmea Investment Management B.V. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 41.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,899 shares of the utilities provider's stock after selling 4,189 shares during the quarter. Achmea Investment Management B.V.'s holdings in Public Service Enterprise Group were worth $498,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Wingate Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $35,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $39,000. Stonebridge Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $54,000. Financial Life Planners acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 73.34% of the company's stock.

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 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. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PEG shares. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Friday, March 14th. 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 for the company. in a research note on Wednesday. Scotiabank increased 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 reduced their price objective on shares of 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. Finally, Bank of America lowered 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. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $89.27.

Public Service Enterprise Group Stock Performance

PEG stock traded up $1.04 on Wednesday, hitting $83.21. The company's stock had a trading volume of 3,719,107 shares, compared to its average volume of 2,546,233. The stock has a market cap of $41.48 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $63.54 and a 1 year high of $95.22. The firm has a 50 day moving average of $83.61 and a two-hundred day moving average of $86.04. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business earned $0.54 earnings per share. The company's quarterly revenue was down 5.4% on a year-over-year basis. Equities 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 71.19%.

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.