Segall Bryant & Hamill LLC Acquires Shares of 28,000 Public Service Enterprise Group Incorporated (NYSE:PEG)

Segall Bryant & Hamill LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 28,000 shares of the utilities provider's stock, valued at approximately $2,498,000.

A number of other large investors also recently added to or reduced their stakes in PEG. Premier Fund Managers Ltd boosted its holdings in shares of Public Service Enterprise Group by 8.3% during the 3rd quarter. Premier Fund Managers Ltd now owns 32,500 shares of the utilities provider's stock valued at $2,868,000 after purchasing an additional 2,500 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at about $2,258,000. Banque Cantonale Vaudoise raised its position in Public Service Enterprise Group by 11.2% during the third quarter. Banque Cantonale Vaudoise now owns 80,901 shares of the utilities provider's stock valued at $7,217,000 after purchasing an additional 8,171 shares during the period. OneAscent Financial Services LLC purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $293,000. Finally, New England Asset Management Inc. raised its holdings in Public Service Enterprise Group by 3.0% during the 3rd quarter. New England Asset Management Inc. now owns 90,118 shares of the utilities provider's stock valued at $8,039,000 after buying an additional 2,605 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of 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. Scotiabank lifted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Barclays dropped 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 report on Tuesday, November 5th. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $86.69.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $92.39 on Friday. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $93.00. The company has a market cap of $46.03 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61. The business's 50 day moving average price is $88.38 and its 200 day moving average price is $80.61. 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 (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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 dividend yield of 2.60%. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares of the company's stock, valued at $4,385,252.17. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,739 shares of company stock valued at $2,467,753. 0.57% of the stock is currently owned by company insiders.

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.