5,200 Shares in Public Service Enterprise Group Inc. (NYSE:PEG) Purchased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co purchased a new position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,200 shares of the utilities provider’s stock, valued at approximately $309,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Andra AP fonden purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth $3,434,000. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Public Service Enterprise Group by 69.8% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,817 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 6,500 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth $82,000. Wealthfront Advisers LLC increased its position in shares of Public Service Enterprise Group by 1.1% during the first quarter. Wealthfront Advisers LLC now owns 27,400 shares of the utilities provider’s stock worth $1,628,000 after acquiring an additional 288 shares during the period. Finally, O Shares Investment Advisers LLC increased its position in shares of Public Service Enterprise Group by 1.6% during the first quarter. O Shares Investment Advisers LLC now owns 22,430 shares of the utilities provider’s stock worth $1,333,000 after acquiring an additional 352 shares during the period. Institutional investors own 68.88% of the company’s stock.

A number of analysts have recently weighed in on PEG shares. Mizuho upped their price objective on Public Service Enterprise Group from $54.00 to $61.50 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Wells Fargo & Co upped their price objective on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered Public Service Enterprise Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $64.00 to $62.00 in a research report on Tuesday, April 23rd. Deutsche Bank lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and set a $58.56 price objective on the stock. in a research report on Thursday, February 28th. Finally, Morgan Stanley upped their price objective on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.75.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $58.49, for a total transaction of $3,065,285.43. Following the transaction, the chairman now owns 464,006 shares of the company’s stock, valued at $27,139,710.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 13,535 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $60.04, for a total value of $812,641.40. Following the transaction, the executive vice president now directly owns 49,909 shares in the company, valued at approximately $2,996,536.36. The disclosure for this sale can be found here. Insiders sold 176,330 shares of company stock worth $10,384,926 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

NYSE:PEG opened at $60.96 on Friday. The firm has a market capitalization of $30.33 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 3.09 and a beta of 0.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.68. Public Service Enterprise Group Inc. has a 12 month low of $49.22 and a 12 month high of $61.63.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.00 by $0.08. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.78 billion. Public Service Enterprise Group had a return on equity of 11.35% and a net margin of 16.03%. During the same quarter in the prior year, the company posted $0.97 earnings per share. Analysts predict that Public Service Enterprise Group Inc. will post 3.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, June 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.26%.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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