Sit Investment Associates Inc. Has $8.12 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sit Investment Associates Inc. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,090 shares of the utilities provider's stock after buying an additional 19,745 shares during the period. Sit Investment Associates Inc.'s holdings in Public Service Enterprise Group were worth $8,119,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.0% in the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider's stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management lifted its stake in Public Service Enterprise Group by 2.4% in the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider's stock worth $440,000 after acquiring an additional 121 shares in the last quarter. United Asset Strategies Inc. boosted its position in Public Service Enterprise Group by 2.6% during the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider's stock worth $416,000 after acquiring an additional 127 shares during the period. Fifth Third Bancorp grew its stake in Public Service Enterprise Group by 0.4% during the 4th quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider's stock valued at $2,990,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 10.1% in the 4th quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider's stock valued at $128,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

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Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business's stock in a transaction dated 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 approximately $18,372,009.60. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.44 during midday trading on Friday, hitting $81.67. 568,582 shares of the company traded hands, compared to its average volume of 2,712,259. The business has a 50 day simple moving average of $81.96 and a 200-day simple moving average of $85.76. 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 Incorporated has a twelve month low of $64.03 and a twelve month high of $95.22. The stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.54 EPS. The business's quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group's dividend payout ratio is presently 71.19%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Scotiabank raised their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 target price for the company. in a research note on Wednesday, March 19th. Guggenheim reiterated a "buy" rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $89.35.

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.