Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,000 shares of the utilities provider's stock after purchasing an additional 15,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Public Service Enterprise Group were worth $7,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEG. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $39,000. Nemes Rush Group LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $53,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter worth about $54,000. Finally, Financial Life Planners purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $56,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Guggenheim reaffirmed a "buy" rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. StockNews.com lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Tuesday. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, Barclays lowered their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $89.35.

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Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.6 %

Public Service Enterprise Group stock traded up $0.46 during trading on Friday, reaching $81.69. The stock had a trading volume of 614,471 shares, compared to its average volume of 2,712,480. 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 52-week low of $64.03 and a 52-week high of $95.22. The stock has a market cap of $40.73 billion, a PE ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.52. The business has a 50 day moving average price of $81.96 and a 200 day moving average price of $85.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping 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 the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company's revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This is a positive change from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio is currently 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.