International Assets Investment Management LLC Purchases 169,425 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

International Assets Investment Management LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5,613.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,443 shares of the utilities provider’s stock after purchasing an additional 169,425 shares during the quarter. International Assets Investment Management LLC’s holdings in Public Service Enterprise Group were worth $10,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. lifted its stake in Public Service Enterprise Group by 2.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 158,563 shares of the utilities provider’s stock worth $9,024,000 after acquiring an additional 4,496 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Public Service Enterprise Group by 17.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,249 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 771 shares during the period. Independent Advisor Alliance boosted its stake in shares of Public Service Enterprise Group by 28.5% during the 3rd quarter. Independent Advisor Alliance now owns 7,947 shares of the utilities provider’s stock valued at $452,000 after purchasing an additional 1,762 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Public Service Enterprise Group by 40.0% during the third quarter. Lindbrook Capital LLC now owns 1,067 shares of the utilities provider’s stock valued at $61,000 after buying an additional 305 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Public Service Enterprise Group by 29.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 150,078 shares of the utilities provider’s stock worth $8,541,000 after buying an additional 33,815 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.6 %

Public Service Enterprise Group stock opened at $70.45 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $70.54. The stock has a fifty day simple moving average of $65.56 and a two-hundred day simple moving average of $62.63. The company has a current ratio of 0.79, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19. The firm has a market cap of $35.09 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 3.08 and a beta of 0.56.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 26.5% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.41%. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Activity at Public Service Enterprise Group

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 Monday, March 4th. The shares were sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the sale, the chief executive officer now owns 153,721 shares of the company’s stock, valued at approximately $9,684,423. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. Insiders have sold a total of 9,322 shares of company stock worth $607,376 over the last quarter. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PEG shares. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. Barclays raised their price objective on 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. Bank of America upped their target price on shares of Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $67.15.

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.