United Services Automobile Association Raises Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

United Services Automobile Association lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,732 shares of the utilities provider’s stock after buying an additional 588 shares during the period. United Services Automobile Association’s holdings in Public Service Enterprise Group were worth $991,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $35,000. OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $54,000. Millstone Evans Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $56,000. Finally, Financial Life Planners acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of research analyst reports. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Scotiabank upped 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. Guggenheim restated a “buy” rating and set a $98.00 price target on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a report on Wednesday, March 19th. Finally, Morgan Stanley boosted their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at approximately $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $83.26 on Tuesday. The business’s fifty day simple moving average is $83.48 and its 200-day simple moving average is $86.11. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $41.51 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $64.03 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. Public Service Enterprise Group’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.03%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

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.