9,060 Shares in Public Service Enterprise Group Incorporated (NYSE:PEG) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,060 shares of the utilities provider's stock, valued at approximately $765,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $445,005,000. Raymond James Financial Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $376,209,000. Jennison Associates LLC boosted its position in Public Service Enterprise Group by 125.3% in 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Public Service Enterprise Group by 604.5% during 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 increased its holdings 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 in the last quarter. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling 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 Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEG shares. Wells Fargo & Company cut their price objective 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. StockNews.com lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Tuesday. Guggenheim reaffirmed a "buy" rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Scotiabank raised 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 report on Thursday, December 12th. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a report on Wednesday, March 19th. 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 stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus target price of $89.35.

Public Service Enterprise Group Trading Up 0.5 %

Public Service Enterprise Group stock traded up $0.44 during trading hours on Friday, reaching $81.67. 568,582 shares of the company's stock were exchanged, compared to its average volume of 2,712,259. The firm's 50 day simple moving average is $81.96 and its 200 day simple moving average is $85.76. Public Service Enterprise Group Incorporated has a twelve month low of $64.03 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. The firm has a market capitalization of $40.72 billion, a PE ratio of 20.05, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.54 EPS. The company's quarterly revenue was down 5.4% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a $0.63 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. 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 is presently 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.