World Investment Advisors LLC Makes New $4.40 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

World Investment Advisors LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 49,356 shares of the utilities provider's stock, valued at approximately $4,403,000.

Other large investors have also recently made changes to their positions in the company. Dynamic Advisor Solutions LLC raised its holdings in shares of Public Service Enterprise Group by 18.7% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 5,149 shares of the utilities provider's stock valued at $380,000 after acquiring an additional 812 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $585,000. Wealth Enhancement Advisory Services LLC increased its stake in Public Service Enterprise Group by 3.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 76,507 shares of the utilities provider's stock worth $5,639,000 after purchasing an additional 2,674 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Public Service Enterprise Group by 3.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 28,118 shares of the utilities provider's stock worth $2,072,000 after buying an additional 997 shares during the last quarter. Finally, Swedbank AB grew its position in shares of Public Service Enterprise Group by 117.1% in the 2nd quarter. Swedbank AB now owns 639,516 shares of the utilities provider's stock worth $47,132,000 after buying an additional 344,891 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.2 %

PEG stock traded up $0.99 during midday trading on Friday, hitting $86.94. The stock had a trading volume of 1,005,088 shares, compared to its average volume of 2,744,717. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $95.22. The company's 50-day moving average price is $89.32 and its 200 day moving average price is $82.26. The firm has a market cap of $43.32 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 3.14 and a beta of 0.62. 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 (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group's dividend payout ratio (DPR) is 58.97%.

Insiders Place Their Bets

In other news, 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 transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,798 shares of company stock worth $1,595,921. Insiders own 0.57% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. UBS Group raised their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a "sector perform" rating in a research report on Thursday. 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 report on Monday, October 21st. Finally, Barclays decreased their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price of $89.17.

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.