Generali Asset Management SPA SGR Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Generali Asset Management SPA SGR acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,834 shares of the utilities provider's stock, valued at approximately $2,859,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEG. Geode Capital Management LLC boosted its holdings in Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock valued at $1,051,744,000 after purchasing an additional 49,285 shares during the last quarter. FMR LLC lifted its stake in shares of Public Service Enterprise Group by 19.4% in the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after purchasing an additional 877,345 shares during the period. Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $376,209,000. Jennison Associates LLC grew 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. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Public Service Enterprise Group by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,030,083 shares of the utilities provider's stock worth $256,012,000 after acquiring an additional 78,452 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Remove Ads

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the completion of the transaction, the chief executive officer now owns 144,212 shares in the company, valued at approximately $12,245,040.92. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Up 0.3 %

Public Service Enterprise Group stock traded up $0.28 during midday trading on Monday, reaching $83.26. 2,446,254 shares of the stock traded hands, compared to its average volume of 2,548,437. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.51 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The company has a 50-day simple moving average of $83.50 and a two-hundred day simple moving average of $86.10. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business's quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced 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 of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEG. StockNews.com upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Friday, March 14th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a research report on Wednesday, February 26th. Morgan Stanley upped their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $89.65.

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.