Ilmarinen Mutual Pension Insurance Co Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.8% in the fourth quarter, HoldingsChannel reports. The firm owned 87,000 shares of the utilities provider’s stock after acquiring an additional 15,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $7,351,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PEG. Norges Bank purchased a new position in Public Service Enterprise Group during the fourth quarter worth $445,005,000. Raymond James Financial Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $376,209,000. Jennison Associates LLC raised its stake in Public Service Enterprise Group by 125.3% in the 4th quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock valued at $285,982,000 after purchasing an additional 1,882,667 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Public Service Enterprise Group by 604.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after purchasing an additional 1,719,614 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Public Service Enterprise Group by 234.1% during the 4th quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock worth $178,900,000 after purchasing an additional 1,483,662 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEG has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Guggenheim reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. Scotiabank increased their target price on 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. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a report on Wednesday, March 19th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Trading Down 4.6 %

NYSE PEG opened at $77.83 on Friday. The firm has a market capitalization of $38.80 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.78 and a beta of 0.52. 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 Incorporated has a one year low of $64.03 and a one year high of $95.22. The company’s 50 day moving average price is $82.34 and its 200 day moving average price is $86.03.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.24%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the transaction, the chief executive officer now owns 221,670 shares in the company, valued at $18,372,009.60. This represents a 0.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

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.