Vinva Investment Management Ltd Buys Shares of 5,978 Public Service Enterprise Group Incorporated (NYSE:PEG)

Vinva Investment Management Ltd bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 5,978 shares of the utilities provider's stock, valued at approximately $528,000.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $35,000. Family Firm Inc. acquired a new stake in Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the second quarter worth $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at $48,000. Finally, Country Trust Bank acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business'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 transaction, the senior vice president now owns 25,829 shares of the company's stock, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company's stock, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,739 shares of company stock worth $2,467,753 in the last quarter. 0.57% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BMO Capital Markets upped their target price on shares of 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. Scotiabank lifted their target price 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. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Finally, 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 note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 0.1 %

Shares of PEG traded up $0.10 during mid-day trading on Friday, reaching $94.30. The company's stock had a trading volume of 1,190,071 shares, compared to its average volume of 2,550,619. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The stock has a market cap of $46.98 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.46 and a beta of 0.61. The company's 50 day moving average is $89.31 and its 200 day moving average is $81.39.

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 earnings per share 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 company had revenue of $2.64 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter last year, the company earned $0.85 earnings per share. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's payout ratio is currently 58.97%.

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.