AMJ Financial Wealth Management Has $8.93 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

AMJ Financial Wealth Management boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 94.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,666 shares of the utilities provider's stock after buying an additional 51,400 shares during the period. Public Service Enterprise Group comprises 2.5% of AMJ Financial Wealth Management's investment portfolio, making the stock its 18th largest holding. AMJ Financial Wealth Management's holdings in Public Service Enterprise Group were worth $8,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC raised its position in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock valued at $285,982,000 after buying an additional 1,882,667 shares during the period. FMR LLC grew its stake in Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after acquiring an additional 877,345 shares in the last quarter. National Bank of Canada FI grew its stake in Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after acquiring an additional 640,485 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Public Service Enterprise Group by 103.6% in the 4th quarter. Van ECK Associates Corp now owns 950,556 shares of the utilities provider's stock valued at $80,313,000 after purchasing an additional 483,795 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of Public Service Enterprise Group by 179.5% in the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock worth $63,061,000 after purchasing an additional 453,985 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total value of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at $12,245,040.92. This trade represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PEG shares. Scotiabank upped 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 note on Thursday, December 12th. Barclays downgraded shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $88.00 to $84.00 in a research note on Monday, January 27th. Guggenheim reissued a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company cut their price target on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.83.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.90 during midday trading on Friday, hitting $79.10. 4,391,970 shares of the company traded hands, compared to its average volume of 2,671,094. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. The stock has a market capitalization of $39.44 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. 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 business has a 50 day simple moving average of $84.39 and a 200-day simple moving average of $86.00.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.01. The business 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%. Public Service Enterprise Group's revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. As a group, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

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.