Russell Investments Group Ltd. Boosts Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Russell Investments Group Ltd. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 151.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,064,829 shares of the utilities provider's stock after buying an additional 640,949 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Public Service Enterprise Group worth $89,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Wingate Wealth Advisors Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth approximately $35,000. OFI Invest Asset Management purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at about $39,000. Nemes Rush Group LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $53,000. Stonebridge Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $54,000. Finally, Financial Life Planners purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $56,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.37 during midday trading on Friday, reaching $81.60. 614,471 shares of the company's stock traded hands, compared to its average volume of 2,712,473. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The company has a market cap of $40.68 billion, a price-to-earnings ratio of 20.03, a P/E/G ratio of 2.78 and a beta of 0.52. The stock has a 50 day moving average of $81.96 and a 200 day moving average of $85.76.

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Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, beating 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 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% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a $0.63 dividend. This is an increase 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 3.09%. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 71.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced 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. BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a "market perform" rating on the stock in a research note on Thursday. Barclays lowered 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. StockNews.com cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Tuesday. Finally, 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 for the company. in a research note on Wednesday, March 19th. 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $89.35.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares of the company's stock, valued at approximately $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.