Tokio Marine Asset Management Co. Ltd. Increases Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tokio Marine Asset Management Co. Ltd. lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 10,250 shares of the utilities provider’s stock after purchasing an additional 1,333 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Public Service Enterprise Group by 13.0% during the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after acquiring an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Public Service Enterprise Group by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after acquiring an additional 726,613 shares in the last quarter. Legal & General Group Plc grew its stake in Public Service Enterprise Group by 1.3% during the third quarter. Legal & General Group Plc now owns 7,049,245 shares of the utilities provider’s stock valued at $401,173,000 after acquiring an additional 87,974 shares in the last quarter. Northern Trust Corp grew its stake in Public Service Enterprise Group by 2.8% during the third quarter. Northern Trust Corp now owns 6,156,996 shares of the utilities provider’s stock valued at $350,395,000 after acquiring an additional 170,586 shares in the last quarter. Finally, Morgan Stanley grew its stake in Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after acquiring an additional 221,071 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total transaction of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares in the company, valued at approximately $10,111,270.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at approximately $1,997,409.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,948 shares of company stock worth $511,814. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Royal Bank of Canada raised their target price on shares of Public Service Enterprise Group from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Bank of America increased their price objective on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays increased their price objective on shares of Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Scotiabank lowered their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Finally, TheStreet upgraded shares of Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.15.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $67.82 on Friday. The firm has a 50-day moving average price of $64.64 and a 200-day moving average price of $62.31. The firm has a market capitalization of $33.81 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $68.39.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.45 billion. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business’s revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.54%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 46.78%.

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.