APG Asset Management N.V. Has $24.44 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

APG Asset Management N.V. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 600.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 299,504 shares of the utilities provider's stock after acquiring an additional 256,724 shares during the quarter. APG Asset Management N.V. owned 0.06% of Public Service Enterprise Group worth $24,438,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth about $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $39,000. Nemes Rush Group LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $53,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $54,000. Finally, Financial Life Planners bought a new stake in Public Service Enterprise Group in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity 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 stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on PEG shares. Wells Fargo & Company reduced their target price on shares of 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. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and set a $82.50 price target on the stock. in a research report on Wednesday, March 19th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Bank of America reduced their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Finally, BMO Capital Markets dropped their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and an average price target of $89.35.

Public Service Enterprise Group Trading Up 0.1 %

PEG stock traded up $0.06 during midday trading on Tuesday, reaching $83.73. The stock had a trading volume of 375,119 shares, compared to its average volume of 2,714,671. 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 firm has a market cap of $41.74 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.78 and a beta of 0.52. The business has a fifty day simple moving average of $81.93 and a two-hundred day simple moving average of $85.67.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly 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 company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. During the same quarter in the previous year, the company earned $0.54 EPS. Public Service Enterprise Group's revenue was down 5.4% on a year-over-year basis. As a group, research 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 business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. Public Service Enterprise Group's payout ratio is 71.19%.

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.