Allianz Asset Management GmbH Has $97.80 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Allianz Asset Management GmbH reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,157,490 shares of the utilities provider’s stock after selling 52,643 shares during the quarter. Allianz Asset Management GmbH owned about 0.23% of Public Service Enterprise Group worth $97,796,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $35,000. Stonebridge Financial Group LLC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $54,000. Financial Life Planners bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $56,000. Finally, Brown Lisle Cummings Inc. acquired a new position in Public Service Enterprise Group during the fourth quarter worth $57,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $83.82 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $59.29 and a fifty-two week high of $95.22. The firm has a 50-day moving average of $84.99 and a 200 day moving average of $85.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The firm has a market cap of $41.76 billion, a P/E ratio of 20.59, a PEG ratio of 2.82 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be given a dividend of $0.63 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PEG shares. Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Barclays lowered Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $88.00 to $84.00 in a report on Monday, January 27th. Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.83.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the transaction, the chief executive officer now owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

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.