Ossiam Raises Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ossiam lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 308.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,083 shares of the utilities provider's stock after buying an additional 105,006 shares during the quarter. Ossiam's holdings in Public Service Enterprise Group were worth $11,751,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 60,775,030 shares of the utilities provider's stock worth $5,134,882,000 after buying an additional 492,517 shares during the last quarter. Geode Capital Management LLC raised its position in Public Service Enterprise Group by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 12,195,300 shares of the utilities provider's stock valued at $1,027,725,000 after purchasing an additional 365,666 shares in the last quarter. Invesco Ltd. lifted its stake in Public Service Enterprise Group by 10.2% during the fourth quarter. Invesco Ltd. now owns 6,525,305 shares of the utilities provider's stock worth $551,323,000 after purchasing an additional 604,978 shares during the last quarter. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth about $445,005,000. Finally, Capital Research Global Investors boosted its holdings in shares of Public Service Enterprise Group by 0.3% in the 4th quarter. Capital Research Global Investors now owns 4,756,965 shares of the utilities provider's stock worth $401,916,000 after purchasing an additional 15,332 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. 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, March 20th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price on the stock. in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. Barclays lowered their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Guggenheim restated a "buy" rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.35.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.0 %

Shares of PEG stock traded up $0.02 during mid-day trading on Thursday, reaching $81.86. 1,232,169 shares of the company's stock traded hands, compared to its average volume of 2,714,962. Public Service Enterprise Group Incorporated has a 12 month low of $65.36 and a 12 month high of $95.22. The company has a market cap of $40.81 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.78 and a beta of 0.52. The company's 50-day moving average price is $81.74 and its 200-day moving average price is $85.34. 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 (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, topping analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business's revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.08%. 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.