Pacer Advisors Inc. Has $5.25 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Pacer Advisors Inc. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,189 shares of the utilities provider's stock after selling 21,855 shares during the period. Pacer Advisors Inc.'s holdings in Public Service Enterprise Group were worth $5,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FMR LLC raised its position in shares of Public Service Enterprise Group by 19.4% during the 3rd quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after acquiring an additional 877,345 shares in the last quarter. Jennison Associates LLC lifted its position 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 worth $134,006,000 after buying an additional 665,105 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of 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 valued at $255,954,000 after buying an additional 663,012 shares during the period. National Bank of Canada FI grew its position in shares of Public Service Enterprise Group by 376.3% during the 3rd quarter. National Bank of Canada FI now owns 810,694 shares of the utilities provider's stock valued at $72,321,000 after buying an additional 640,485 shares during the last quarter. Finally, Verition Fund Management LLC lifted its holdings in Public Service Enterprise Group by 179.5% in the third quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider's stock worth $63,061,000 after acquiring an additional 453,985 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have recently commented on PEG. Scotiabank upped their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $88.00 to $84.00 in a report on Monday. Finally, Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $88.83.

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. 2,922,453 shares of the company traded hands, compared to its average volume of 2,397,812. The business has a 50 day moving average of $87.32 and a two-hundred day moving average of $85.04. The stock has a market capitalization of $41.76 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.82 and a beta of 0.65. Public Service Enterprise Group Incorporated has a 1 year low of $57.24 and a 1 year high of $95.22. 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 released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm posted $0.85 earnings per share. The firm's quarterly revenue 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 Announces Dividend

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

Public Service Enterprise Group 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.