Allianz SE Invests $1.14 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Allianz SE purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,540 shares of the utilities provider’s stock, valued at approximately $1,144,000.

Several other large investors also recently bought and sold shares of PEG. Allstate Corp purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $1,250,000. DnB Asset Management AS boosted its stake in Public Service Enterprise Group by 6.7% during the fourth quarter. DnB Asset Management AS now owns 123,690 shares of the utilities provider’s stock worth $10,451,000 after buying an additional 7,748 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Public Service Enterprise Group by 0.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 28,174 shares of the utilities provider’s stock valued at $2,380,000 after buying an additional 239 shares in the last quarter. Premier Fund Managers Ltd increased its stake in shares of Public Service Enterprise Group by 10.8% in the 4th quarter. Premier Fund Managers Ltd now owns 36,000 shares of the utilities provider’s stock worth $3,040,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Public Service Enterprise Group by 0.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 157,548 shares of the utilities provider’s stock worth $13,311,000 after acquiring an additional 534 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $81.57 on Monday. The stock’s 50-day moving average price is $83.03 and its 200 day moving average price is $86.13. Public Service Enterprise Group Incorporated has a 12-month low of $64.03 and a 12-month high of $95.22. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.78 and a beta of 0.60. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 71.19%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEG. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Scotiabank upped their price objective on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley raised their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $89.65.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 126,791 shares in the company, valued at $10,536,332.10. The trade was a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.