Martingale Asset Management L P Decreases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Martingale Asset Management L P cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,110 shares of the utilities provider's stock after selling 62,379 shares during the quarter. Martingale Asset Management L P's holdings in Public Service Enterprise Group were worth $15,049,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PEG. APG Asset Management N.V. raised its position in Public Service Enterprise Group by 600.1% during the fourth quarter. APG Asset Management N.V. now owns 299,504 shares of the utilities provider's stock worth $24,438,000 after acquiring an additional 256,724 shares during the period. Advisory Services Network LLC raised its position in shares of Public Service Enterprise Group by 1.5% during the 4th quarter. Advisory Services Network LLC now owns 37,628 shares of the utilities provider's stock worth $3,179,000 after purchasing an additional 542 shares during the last quarter. Bank of Nova Scotia lifted its stake in Public Service Enterprise Group by 3.9% in the 4th quarter. Bank of Nova Scotia now owns 66,507 shares of the utilities provider's stock valued at $5,619,000 after buying an additional 2,488 shares in the last quarter. Invesco Ltd. lifted its stake in Public Service Enterprise Group by 10.2% in the 4th quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock valued at $551,323,000 after buying an additional 604,978 shares in the last quarter. Finally, Polymer Capital Management US LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $2,535,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PEG. StockNews.com downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Morgan Stanley lifted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Barclays lowered their price target on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $89.35.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the transaction, the chief executive officer now owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.3 %

Shares of NYSE PEG traded up $1.03 during mid-day trading on Monday, reaching $83.17. 616,116 shares of the company's stock were exchanged, compared to its average volume of 2,717,685. The firm has a market capitalization of $41.47 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22. The company's 50-day moving average is $81.94 and its 200-day moving average is $85.71. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the business posted $0.54 EPS. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. 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 71.19%.

About Public Service Enterprise Group

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.