iA Global Asset Management Inc. Has $1.39 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

iA Global Asset Management Inc. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 736.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,525 shares of the utilities provider's stock after acquiring an additional 13,670 shares during the quarter. iA Global Asset Management Inc.'s holdings in Public Service Enterprise Group were worth $1,385,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter valued at $35,000. Family Firm Inc. bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $33,000. OFI Invest Asset Management bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter worth about $48,000. Finally, Friedenthal Financial bought a new stake in Public Service Enterprise Group during the 2nd quarter worth about $52,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the firm's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company's stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,798 shares of company stock worth $1,595,921. Corporate insiders own 0.18% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $2.11 on Monday, reaching $87.89. 2,638,558 shares of the company's stock were exchanged, compared to its average volume of 2,749,938. The company has a fifty day moving average of $89.63 and a 200-day moving average of $82.13. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22. The company has a market capitalization of $43.79 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 3.30 and a beta of 0.62. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.73%. Public Service Enterprise Group's dividend payout ratio is 58.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets boosted their price target 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. Barclays dropped their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a "hold" rating and a $85.00 target price on the stock. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, Bank of America upped their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.08.

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.