Janney Montgomery Scott LLC Has $5.63 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Janney Montgomery Scott LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 66,610 shares of the utilities provider's stock after purchasing an additional 6,532 shares during the period. Janney Montgomery Scott LLC's holdings in Public Service Enterprise Group were worth $5,628,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PEG. FMR LLC increased its position in Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock worth $481,825,000 after buying an additional 877,345 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider's stock valued at $134,006,000 after acquiring an additional 665,105 shares in the last quarter. Raymond James & Associates lifted its holdings in Public Service Enterprise Group by 30.1% in the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after purchasing an additional 663,012 shares during the last quarter. National Bank of Canada FI boosted its position in Public Service Enterprise Group by 376.3% during the third quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock worth $72,321,000 after purchasing an additional 640,485 shares during the period. Finally, Verition Fund Management LLC grew its holdings in Public Service Enterprise Group by 179.5% during the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock valued at $63,061,000 after purchasing an additional 453,985 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total value of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company's stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction dated Monday, November 11th. The shares were 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 approximately $2,271,660.55. The trade was a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,234 shares of company stock worth $722,037. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 2.6 %

Shares of NYSE PEG traded up $2.12 during mid-day trading on Thursday, hitting $83.82. The company's stock had a trading volume of 2,923,242 shares, compared to its average volume of 2,397,986. Public Service Enterprise Group Incorporated has a one year low of $57.24 and a one year high of $95.22. The company's fifty day simple moving average is $87.32 and its 200-day simple moving average is $85.04. 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 stock has a market cap of $41.76 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.65.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group's payout ratio is 58.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEG shares. Barclays cut shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $88.00 to $84.00 in a report on Monday. Guggenheim reaffirmed a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research report on Monday, October 21st. Finally, Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus price target of $88.83.

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.