Ausbil Investment Management Ltd Has $9.04 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ausbil Investment Management Ltd lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 55.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,812 shares of the utilities provider's stock after selling 130,869 shares during the quarter. Public Service Enterprise Group comprises 5.5% of Ausbil Investment Management Ltd's portfolio, making the stock its largest holding. Ausbil Investment Management Ltd's holdings in Public Service Enterprise Group were worth $9,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Old Port Advisors grew its position in Public Service Enterprise Group by 0.5% in the 3rd quarter. Old Port Advisors now owns 23,527 shares of the utilities provider's stock worth $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC increased its stake in Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider's stock valued at $827,000 after acquiring an additional 115 shares during the period. First Commonwealth Financial Corp PA raised its holdings in Public Service Enterprise Group by 1.3% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 9,444 shares of the utilities provider's stock valued at $842,000 after acquiring an additional 123 shares in the last quarter. Cigna Investments Inc. New raised its holdings in Public Service Enterprise Group by 2.5% in the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider's stock valued at $451,000 after acquiring an additional 124 shares in the last quarter. Finally, Great Lakes Retirement Inc. increased its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider's stock valued at $2,619,000 after purchasing an additional 127 shares during the period. Institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PEG. Scotiabank increased 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 research report on Thursday, December 12th. Wells Fargo & Company boosted their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Barclays cut shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $88.00 to $84.00 in a research note on Monday, January 27th. UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.83.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the transaction, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company's stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock valued at $722,037 in the last quarter. Company insiders own 0.18% of the company's stock.

Public Service Enterprise Group Trading Up 0.1 %

NYSE PEG traded up $0.11 on Tuesday, reaching $83.58. The company had a trading volume of 974,095 shares, compared to its average volume of 2,290,858. 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 52 week low of $57.24 and a 52 week high of $95.22. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 2.67 and a beta of 0.64. The stock's 50 day moving average is $86.78 and its 200-day moving average is $85.31.

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

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. Public Service Enterprise Group's dividend 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.