Bank Julius Baer & Co. Ltd Zurich Takes $2.47 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,197 shares of the utilities provider's stock, valued at approximately $2,472,000.

Several other institutional investors have also recently made changes to their positions in the stock. Center for Financial Planning Inc. raised its holdings in shares of Public Service Enterprise Group by 3.0% in the 4th quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock worth $349,000 after acquiring an additional 120 shares during the last quarter. Spire Wealth Management raised its holdings in shares of Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after acquiring an additional 121 shares during the last quarter. First Commonwealth Financial Corp PA raised its holdings in shares of Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock worth $842,000 after acquiring an additional 123 shares during the last quarter. United Asset Strategies Inc. raised its holdings in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after acquiring an additional 127 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Public Service Enterprise Group by 0.4% in the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock worth $2,990,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now directly owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Stock Up 1.1 %

Public Service Enterprise Group stock opened at $79.10 on Monday. The firm has a 50 day moving average price of $84.27 and a 200-day moving average price of $86.07. The company has a market capitalization of $39.44 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month 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.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date is Monday, March 10th. 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 yield of 3.19%. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PEG shares. StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price objective on shares of 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. 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 note on Thursday, December 12th. BMO Capital Markets increased their price objective on shares of 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, Bank of America decreased 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 research note on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.83.

About Public Service Enterprise Group

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.

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