Jacobs Levy Equity Management Inc. Grows Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8,334.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 380,832 shares of the utilities provider's stock after acquiring an additional 376,317 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.08% of Public Service Enterprise Group worth $33,974,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its stake in shares of Public Service Enterprise Group by 155.6% in the 1st quarter. Cetera Investment Advisers now owns 120,880 shares of the utilities provider's stock valued at $8,072,000 after purchasing an additional 73,585 shares during the last quarter. Cetera Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 66.0% in the 1st quarter. Cetera Advisors LLC now owns 23,614 shares of the utilities provider's stock valued at $1,577,000 after purchasing an additional 9,388 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 50.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,283 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 432 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Public Service Enterprise Group by 27.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 917 shares of the utilities provider's stock valued at $68,000 after purchasing an additional 196 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Public Service Enterprise Group by 115.5% in the 2nd quarter. Mather Group LLC. now owns 4,553 shares of the utilities provider's stock valued at $336,000 after purchasing an additional 2,440 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.36 during midday trading on Wednesday, hitting $91.52. 620,488 shares of the company's stock traded hands, compared to its average volume of 2,753,204. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $95.22. The stock has a market capitalization of $45.60 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 3.38 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a fifty day moving average of $89.46 and a 200 day moving average of $81.68.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 2.62%. Public Service Enterprise Group's payout ratio is 58.97%.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction 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. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,361 shares of company stock worth $2,356,562 in the last three months. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEG. Scotiabank increased their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Bank of America increased their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Morgan Stanley increased their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Barclays cut 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 research note on Tuesday, November 5th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. 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's stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average target price of $88.08.

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.