Vinva Investment Management Ltd Takes Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Vinva Investment Management Ltd acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,978 shares of the utilities provider’s stock, valued at approximately $528,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management bought a new position in Public Service Enterprise Group in the second quarter valued at about $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $48,000. Finally, Country Trust Bank bought a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $52,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the completion of the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at approximately $6,307,290.99. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,739 shares of company stock worth $2,467,753. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PEG. Bank of America upped their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley increased their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays cut their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.69.

Public Service Enterprise Group Trading Up 0.1 %

NYSE:PEG opened at $94.30 on Friday. The firm has a fifty day simple moving average of $89.31 and a two-hundred day simple moving average of $81.39. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $95.22. The stock has a market capitalization of $46.98 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 3.46 and a beta of 0.61. 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 earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.85 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.55%. The ex-dividend date is Tuesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 58.97%.

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.