Swedbank AB Has $38.13 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 451,264 shares of the utilities provider's stock after buying an additional 26,259 shares during the period. Swedbank AB owned approximately 0.09% of Public Service Enterprise Group worth $38,127,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Public Service Enterprise Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 11,829,634 shares of the utilities provider's stock valued at $1,051,744,000 after acquiring an additional 49,285 shares during the period. FMR LLC lifted its stake in Public Service Enterprise Group by 19.4% in the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider's stock valued at $481,825,000 after buying an additional 877,345 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,951,631 shares of the utilities provider's stock worth $263,315,000 after acquiring an additional 19,650 shares in the last quarter. Raymond James & Associates raised its holdings in shares of Public Service Enterprise Group by 30.1% during the third quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider's stock worth $255,954,000 after acquiring an additional 663,012 shares during the period. Finally, Franklin Resources Inc. lifted its position in Public Service Enterprise Group by 5.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,637,882 shares of the utilities provider's stock valued at $235,194,000 after acquiring an additional 147,903 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 956 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the transaction, the chief operating officer now owns 70,011 shares of the company's stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,234 shares of company stock worth $722,037 in the last ninety days. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PEG shares. BMO Capital Markets lifted their price target 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. Barclays lowered Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 8th. Guggenheim reiterated a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Scotiabank increased their target price on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a "sector perform" rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.83.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded up $0.20 during midday trading on Monday, reaching $83.74. 1,198,295 shares of the company's stock were exchanged, compared to its average volume of 2,309,344. Public Service Enterprise Group Incorporated has a 52 week low of $57.24 and a 52 week high of $95.22. The stock's 50-day simple moving average is $86.97 and its 200 day simple moving average is $85.24. 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 market cap of $41.72 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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