Dai ichi Life Insurance Company Ltd Grows Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dai ichi Life Insurance Company Ltd grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,923 shares of the utilities provider’s stock after purchasing an additional 3,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Public Service Enterprise Group were worth $3,848,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Modera Wealth Management LLC lifted its position in shares of Public Service Enterprise Group by 2.6% during the 3rd quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after buying an additional 170 shares in the last quarter. Strategic Investment Advisors MI lifted its holdings in Public Service Enterprise Group by 1.0% in the 4th quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after purchasing an additional 179 shares in the last quarter. Lido Advisors LLC lifted its holdings in Public Service Enterprise Group by 4.1% in the 3rd quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 183 shares in the last quarter. Signaturefd LLC lifted its holdings in Public Service Enterprise Group by 2.3% in the 4th quarter. Signaturefd LLC now owns 8,495 shares of the utilities provider’s stock valued at $519,000 after purchasing an additional 187 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in Public Service Enterprise Group by 3.6% in the 4th quarter. Spire Wealth Management now owns 5,479 shares of the utilities provider’s stock valued at $321,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $64.18, for a total transaction of $308,064.00. Following the transaction, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock valued at $607,376 over the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research reports. Mizuho raised their price objective on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada raised their target price on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. BMO Capital Markets cut their target price on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a research note on Tuesday, February 27th. Bank of America raised their target price on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $68.31.

Public Service Enterprise Group Stock Down 1.2 %

PEG stock traded down $0.88 during trading on Thursday, hitting $73.45. 235,877 shares of the company’s stock were exchanged, compared to its average volume of 2,816,111. The business has a 50-day moving average price of $68.25 and a two-hundred day moving average price of $63.77. The stock has a market capitalization of $36.58 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.83 and a beta of 0.56. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $75.17. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. As a group, equities research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

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.