Legal & General Group Plc Has $549.51 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Legal & General Group Plc trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,503,822 shares of the utilities provider's stock after selling 631,885 shares during the quarter. Legal & General Group Plc owned approximately 1.31% of Public Service Enterprise Group worth $549,508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 valued at $5,134,882,000 after purchasing an additional 492,517 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 365,666 shares during the period. Invesco Ltd. lifted its stake in shares of 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 valued at $551,323,000 after buying an additional 604,978 shares during the period. Norges Bank acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $445,005,000. Finally, Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $376,209,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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Public Service Enterprise Group Stock Up 1.1 %

PEG traded up $0.91 on Friday, reaching $82.14. 2,495,281 shares of the company traded hands, compared to its average volume of 2,725,896. The company has a market cap of $40.95 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 2.78 and a beta of 0.52. 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's 50 day moving average price is $81.94 and its 200-day moving average price is $85.71. Public Service Enterprise Group Incorporated has a 52-week low of $64.03 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate 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%. Public Service Enterprise Group's revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $0.63 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Analyst Ratings Changes

Several analysts have commented on PEG shares. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. 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 on the stock in a research note on Monday, March 3rd. Guggenheim reissued a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, Barclays cut their target price on 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $89.35.

Insider Activity at Public Service Enterprise Group

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 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 represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

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.