AIA Group Ltd Has $628,000 Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

AIA Group Ltd lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,267 shares of the utilities provider’s stock after selling 1,764 shares during the quarter. AIA Group Ltd’s holdings in Public Service Enterprise Group were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Operose Advisors LLC increased its position in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 435 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $31,000. Clear Street Markets LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $31,000. CNB Bank bought a new position in Public Service Enterprise Group during the third quarter worth about $34,000. Finally, Bruce G. Allen Investments LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was 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 directly owns 153,721 shares in the company, valued at $9,684,423. The sale was disclosed in a filing with the SEC, which is available at this link. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,800 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Royal Bank of Canada lifted their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Bank of America lifted their price target on Public Service Enterprise Group from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Morgan Stanley reiterated an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a report on Monday, March 25th. Finally, Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.58.

Public Service Enterprise Group Trading Up 1.0 %

Shares of NYSE:PEG opened at $65.74 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.67 and a debt-to-equity ratio of 1.15. The stock has a market cap of $32.78 billion, a PE ratio of 12.81, a P/E/G ratio of 2.85 and a beta of 0.58. The business has a 50 day moving average of $63.84 and a 200-day moving average of $61.92. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $67.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The firm’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 46.78%.

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.