Alphasimplex Group LLC Acquires New Stake in Public Service Enterprise Group Inc. (NYSE:PEG)

Alphasimplex Group LLC acquired a new stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,742 shares of the utilities provider’s stock, valued at approximately $401,000.

Other institutional investors also recently modified their holdings of the company. Caxton Associates LP bought a new position in Public Service Enterprise Group during the fourth quarter valued at approximately $264,000. Candriam Luxembourg S.C.A. lifted its position in Public Service Enterprise Group by 50.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 55,187 shares of the utilities provider’s stock valued at $2,872,000 after purchasing an additional 18,581 shares during the period. Bessemer Group Inc. lifted its position in Public Service Enterprise Group by 12.1% during the fourth quarter. Bessemer Group Inc. now owns 2,627 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 284 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Public Service Enterprise Group by 7.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 91,468 shares of the utilities provider’s stock valued at $4,761,000 after purchasing an additional 6,081 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its position in Public Service Enterprise Group by 51.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 81,154 shares of the utilities provider’s stock valued at $4,224,000 after purchasing an additional 27,740 shares during the period. Institutional investors own 68.88% of the company’s stock.

Shares of PEG stock opened at $59.37 on Wednesday. Public Service Enterprise Group Inc. has a 12 month low of $49.22 and a 12 month high of $61.63. The company has a market cap of $30.33 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 3.10 and a beta of 0.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.68 and a quick ratio of 0.52.



Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. Public Service Enterprise Group had a net margin of 16.03% and a return on equity of 11.35%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, research analysts predict that Public Service Enterprise Group Inc. will post 3.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.47 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.17%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.

A number of analysts have commented on PEG shares. Mizuho upped their target price on shares of Public Service Enterprise Group from $54.00 to $61.50 and gave the company a “buy” rating in a report on Wednesday, March 13th. Deutsche Bank cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 target price for the company. in a report on Thursday, February 28th. JPMorgan Chase & Co. cut shares of Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $64.00 to $62.00 in a report on Tuesday, April 23rd. Wells Fargo & Co upped their target price on shares of Public Service Enterprise Group from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Finally, KeyCorp started coverage on shares of Public Service Enterprise Group in a report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $59.91.

In other news, CFO Daniel J. Cregg sold 625 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total value of $37,031.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $60.04, for a total transaction of $812,641.40. Following the completion of the sale, the executive vice president now directly owns 49,909 shares of the company’s stock, valued at $2,996,536.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 176,330 shares of company stock valued at $10,384,926. Corporate insiders own 0.51% of the company’s stock.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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