Universal Beteiligungs und Servicegesellschaft mbH Raises Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 392,791 shares of the utilities provider’s stock after acquiring an additional 4,493 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Public Service Enterprise Group were worth $32,327,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PEG. Robeco Institutional Asset Management B.V. raised its position in Public Service Enterprise Group by 6.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock worth $3,922,000 after purchasing an additional 2,803 shares during the period. Sowell Financial Services LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter valued at about $298,000. Exchange Traded Concepts LLC increased its stake in Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after purchasing an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock valued at $7,417,000 after purchasing an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. bought a new position in shares of Public Service Enterprise Group in the first quarter worth approximately $329,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Guggenheim dropped their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Barclays reduced their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Tuesday. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Sunday. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $89.95.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $86.73 on Thursday. The business’s 50-day moving average price is $81.45 and its 200 day moving average price is $82.10. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. The firm has a market cap of $43.28 billion, a P/E ratio of 23.70, a P/E/G ratio of 3.07 and a beta of 0.48. Public Service Enterprise Group Incorporated has a 52-week low of $73.83 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, hitting analysts’ consensus estimates of $1.43. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.91%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 68.85%.

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.