Erste Asset Management GmbH Makes New $8.69 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Erste Asset Management GmbH acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 98,500 shares of the utilities provider's stock, valued at approximately $8,693,000.

A number of other hedge funds also recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at $35,000. Family Firm Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the second quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group during the third quarter valued at $48,000. Finally, Country Trust Bank purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company's stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock valued at $2,467,753 in the last quarter. Company insiders own 0.57% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $1.31 during midday trading on Monday, hitting $92.99. The company had a trading volume of 558,970 shares, compared to its average volume of 2,757,102. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The business has a 50-day simple moving average of $89.31 and a two-hundred day simple moving average of $81.44. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm posted $0.85 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 annualized dividend and a yield of 2.58%. Public Service Enterprise Group's dividend payout ratio is presently 58.97%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEG. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a report on Monday, October 21st. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 5th. Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.08.

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.