Nomura Asset Management Co. Ltd. Has $13.31 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Nomura Asset Management Co. Ltd. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,548 shares of the utilities provider’s stock after acquiring an additional 534 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $13,311,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of PEG. Center for Financial Planning Inc. lifted its position in shares of Public Service Enterprise Group by 3.0% during the fourth quarter. Center for Financial Planning Inc. now owns 4,126 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 120 shares in the last quarter. Spire Wealth Management lifted its position in shares of Public Service Enterprise Group by 2.4% during the 4th quarter. Spire Wealth Management now owns 5,207 shares of the utilities provider’s stock worth $440,000 after buying an additional 121 shares in the last quarter. United Asset Strategies Inc. boosted its stake in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 4,921 shares of the utilities provider’s stock worth $416,000 after buying an additional 127 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Public Service Enterprise Group by 0.4% in the fourth quarter. Fifth Third Bancorp now owns 35,384 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 139 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Public Service Enterprise Group by 10.1% during the fourth quarter. Larson Financial Group LLC now owns 1,518 shares of the utilities provider’s stock valued at $128,000 after acquiring an additional 139 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 1.1 %

Public Service Enterprise Group stock opened at $81.57 on Monday. The firm has a 50 day simple moving average of $83.03 and a 200 day simple moving average of $86.13. 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 Incorporated has a 1-year low of $64.03 and a 1-year high of $95.22. The firm has a market capitalization of $40.67 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 2.78 and a beta of 0.60.

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, beating the consensus estimate of $0.83 by $0.01. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.09%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the sale, the chief executive officer now directly owns 126,791 shares in the company, valued at $10,536,332.10. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Barclays cut Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $88.00 to $84.00 in a research report on Monday, January 27th. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Wells Fargo & Company decreased 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 report on Wednesday, February 26th. StockNews.com upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday, March 14th. Finally, 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 note on Wednesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.65.

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.