Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 230.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,967 shares of the utilities provider’s stock after buying an additional 153,318 shares during the quarter. RWC Asset Management LLP’s holdings in Public Service Enterprise Group were worth $18,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PEG. Colonial River Investments LLC raised its position in Public Service Enterprise Group by 5.4% in the 4th quarter. Colonial River Investments LLC now owns 7,497 shares of the utilities provider’s stock valued at $633,000 after purchasing an additional 386 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $4,925,000. Delta Financial Group Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $1,590,000. ST. Nicholas Private Asset Management Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $2,686,000. Finally, First Horizon Advisors Inc. lifted its position in Public Service Enterprise Group by 0.4% during the 4th quarter. First Horizon Advisors Inc. now owns 396,400 shares of the utilities provider’s stock worth $33,492,000 after acquiring an additional 1,497 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research report on Monday, January 27th. Finally, Scotiabank boosted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $83.10, for a total transaction of $114,511.80. Following the completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Down 1.0 %

PEG stock opened at $83.82 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s 50 day simple moving average is $84.99 and its 200-day simple moving average is $85.99. Public Service Enterprise Group Incorporated has a 12 month low of $59.29 and a 12 month high of $95.22. The firm has a market capitalization of $41.76 billion, a PE ratio of 20.59, a P/E/G ratio of 2.78 and a beta of 0.64.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.01%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.92%.

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.