Royal London Asset Management Ltd. Acquires 90,230 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Royal London Asset Management Ltd. lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 22.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 484,233 shares of the utilities provider's stock after purchasing an additional 90,230 shares during the quarter. Royal London Asset Management Ltd. owned 0.10% of Public Service Enterprise Group worth $43,198,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. IHT Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 27.8% during the third quarter. IHT Wealth Management LLC now owns 9,671 shares of the utilities provider's stock worth $866,000 after buying an additional 2,106 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of Public Service Enterprise Group by 1.8% during the third quarter. Integrated Wealth Concepts LLC now owns 13,182 shares of the utilities provider's stock worth $1,176,000 after buying an additional 236 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Public Service Enterprise Group by 13.1% during the third quarter. Investment Management Corp of Ontario now owns 47,421 shares of the utilities provider's stock worth $4,230,000 after buying an additional 5,500 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in shares of Public Service Enterprise Group by 18.8% during the third quarter. Itau Unibanco Holding S.A. now owns 25,406 shares of the utilities provider's stock worth $2,266,000 after buying an additional 4,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Public Service Enterprise Group by 8,334.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 380,832 shares of the utilities provider's stock worth $33,974,000 after buying an additional 376,317 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 956 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,361 shares of company stock worth $2,356,562. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Scotiabank raised their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a "hold" rating and a $85.00 price target for the company. Morgan Stanley raised their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Finally, Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average target price of $88.08.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $1.51 during mid-day trading on Friday, hitting $90.01. 1,646,682 shares of the stock were exchanged, compared to its average volume of 2,750,410. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.34 and a beta of 0.62. The firm's 50-day simple moving average is $89.62 and its 200 day simple moving average is $81.82. 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 Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a $0.60 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 annualized dividend and a dividend yield of 2.67%. Public Service Enterprise Group's payout ratio is 58.97%.

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.