Ossiam Acquires 105,006 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Ossiam lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 308.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,083 shares of the utilities provider’s stock after acquiring an additional 105,006 shares during the period. Ossiam’s holdings in Public Service Enterprise Group were worth $11,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $445,005,000. Raymond James Financial Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter worth $376,209,000. Jennison Associates LLC boosted its stake in Public Service Enterprise Group by 125.3% during the fourth quarter. Jennison Associates LLC now owns 3,384,803 shares of the utilities provider’s stock worth $285,982,000 after buying an additional 1,882,667 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Public Service Enterprise Group by 604.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,004,100 shares of the utilities provider’s stock valued at $169,404,000 after acquiring an additional 1,719,614 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Public Service Enterprise Group by 234.1% in the fourth quarter. Schroder Investment Management Group now owns 2,117,411 shares of the utilities provider’s stock valued at $178,900,000 after acquiring an additional 1,483,662 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PEG shares. LADENBURG THALM/SH SH cut 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 note on Wednesday, March 19th. Barclays dropped their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Morgan Stanley increased their price target on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a report on Thursday, April 10th. Finally, StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.35.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now owns 221,670 shares of the company’s stock, valued at $18,372,009.60. The trade was a 0.62 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.4 %

NYSE:PEG opened at $83.33 on Friday. 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 firm has a market cap of $41.55 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. The company has a 50-day moving average of $81.89 and a 200 day moving average of $85.55. Public Service Enterprise Group Incorporated has a 1-year low of $65.26 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The firm had revenue of $2.47 billion during 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 company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s payout ratio is 71.19%.

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.