Jacobs Levy Equity Management Inc. Buys 49,332 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Jacobs Levy Equity Management Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 430,164 shares of the utilities provider’s stock after purchasing an additional 49,332 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.09% of Public Service Enterprise Group worth $36,345,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the 4th quarter worth about $35,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group during the 4th quarter worth about $39,000. Finally, Optiver Holding B.V. bought a new position in Public Service Enterprise Group during the 4th quarter worth about $50,000. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the completion of the transaction, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $78.92 on Monday. The firm has a market capitalization of $39.38 billion, a P/E ratio of 19.39, a PEG ratio of 2.78 and a beta of 0.48. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average price of $80.97 and a 200 day moving average price of $84.46. Public Service Enterprise Group Incorporated has a 52 week low of $71.89 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the firm posted $1.31 EPS. Public Service Enterprise Group’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 68.85%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PEG shares. StockNews.com cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Thursday, May 1st. Evercore ISI dropped their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target for the company. in a research report on Wednesday, March 19th. Wells Fargo & Company decreased their price target 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. Finally, BMO Capital Markets decreased their price target on shares of Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.81.

Public Service Enterprise Group Company 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.