Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Position Raised by Assetmark Inc.

Assetmark Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 852,313 shares of the utilities provider's stock after acquiring an additional 15,528 shares during the period. Assetmark Inc. owned about 0.17% of Public Service Enterprise Group worth $72,012,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEG. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $35,000. Stonebridge Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $54,000. Financial Life Planners purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $57,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PEG shares. Bank of America dropped their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. StockNews.com raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a "market perform" rating in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average price target of $89.83.

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Insider Transactions 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 Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.57% of the company's stock.

Public Service Enterprise Group Stock Up 1.1 %

PEG stock traded up $0.90 during trading on Friday, reaching $79.10. The stock had a trading volume of 4,391,970 shares, compared to its average volume of 2,671,094. Public Service Enterprise Group Incorporated has a 1-year low of $63.31 and a 1-year high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $39.44 billion, a P/E ratio of 19.43, a PEG ratio of 2.78 and a beta of 0.60. The firm has a fifty day moving average price of $84.27 and a 200 day moving average price of $85.99.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm's revenue was down 5.4% compared to the same quarter last year. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.19%. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's payout ratio is presently 71.19%.

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.