Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 509,946 shares of the utilities provider's stock after purchasing an additional 115,731 shares during the period. Victory Capital Management Inc. owned 0.10% of Public Service Enterprise Group worth $43,085,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider's stock valued at $7,403,000 after acquiring an additional 18,627 shares during the last quarter. DRW Securities LLC acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $8,244,000. Cullen Investment Group LTD. raised its holdings in Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider's stock worth $2,270,000 after purchasing an additional 10,610 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $2,860,000. Finally, Parsons Capital Management Inc. RI acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $2,565,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares of the company's stock, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Up 1.1 %

PEG traded up $0.90 on Friday, reaching $79.10. 4,391,970 shares of the company's stock were exchanged, compared to its average volume of 2,671,094. The company's 50 day moving average is $84.27 and its 200-day moving average is $86.03. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $63.31 and a twelve month high of $95.22. 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 released its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group's previous quarterly dividend of $0.60. Public Service Enterprise Group's dividend payout ratio is currently 71.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Bank of America decreased their target price on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Scotiabank boosted their price objective 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. Barclays lowered shares of Public Service Enterprise Group from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Guggenheim restated a "buy" rating and issued a $98.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Six investment 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $89.83.

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.