Groupama Asset Managment Makes New $1.65 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

Groupama Asset Managment acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,504 shares of the utilities provider's stock, valued at approximately $1,648,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock valued at $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Geode Capital Management LLC lifted its stake in Public Service Enterprise Group by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after buying an additional 365,666 shares in the last quarter. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $445,005,000. Raymond James Financial Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $376,209,000. Finally, Jennison Associates LLC lifted its stake in shares of Public Service Enterprise Group by 125.3% during the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider's stock worth $285,982,000 after purchasing an additional 1,882,667 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have commented on the company. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Bank of America decreased their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a "market perform" rating in a report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped 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. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $89.65.

Public Service Enterprise Group Stock Down 1.2 %

Public Service Enterprise Group stock traded down $0.91 during midday trading on Monday, hitting $76.82. 1,777,140 shares of the stock were exchanged, compared to its average volume of 2,686,125. Public Service Enterprise Group Incorporated has a 1 year low of $64.03 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The firm has a market cap of $38.30 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.78 and a beta of 0.52. The company has a 50 day moving average price of $82.34 and a two-hundred day moving average price of $86.04.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The company's revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict 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 was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.28%. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 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.