USA Financial Formulas Takes $1.12 Million Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

USA Financial Formulas purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,207 shares of the utilities provider's stock, valued at approximately $1,116,000.

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

Insider Buying and Selling

In related news, COO Kim C. Hanemann sold 956 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares in the company, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the company'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 transaction of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,234 shares of company stock valued at $722,037. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

PEG stock traded up $1.79 during trading hours on Thursday, hitting $88.06. 830,177 shares of the stock traded hands, compared to its average volume of 1,831,996. The stock has a 50-day simple moving average of $87.52 and a 200 day simple moving average of $84.21. The company has a market cap of $43.87 billion, a P/E ratio of 21.63, a P/E/G ratio of 2.81 and a beta of 0.65. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one 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.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates 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 business 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 firm earned $0.85 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were given a $0.60 dividend. 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 2.73%. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BMO Capital Markets upped 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 report on Monday, October 21st. UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Guggenheim reissued a "buy" rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Finally, Evercore ISI upped their price target on shares of 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $89.17.

Public Service Enterprise Group 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.