Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Get Rating) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,136 shares of the utilities provider’s stock after purchasing an additional 6,062 shares during the quarter. Victory Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $10,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. D.A. Davidson & CO. lifted its position in Public Service Enterprise Group by 7.5% in the first quarter. D.A. Davidson & CO. now owns 3,657 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 256 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Public Service Enterprise Group by 6.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,318,721 shares of the utilities provider’s stock worth $92,310,000 after purchasing an additional 83,174 shares in the last quarter. Prudential PLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $798,000. Cetera Investment Advisers lifted its holdings in shares of Public Service Enterprise Group by 1.3% in the 1st quarter. Cetera Investment Advisers now owns 25,619 shares of the utilities provider’s stock valued at $1,793,000 after purchasing an additional 332 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $214,000. Hedge funds and other institutional investors own 70.67% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Eric Carr sold 7,105 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $57.63, for a total value of $409,461.15. Following the completion of the transaction, the chief operating officer now directly owns 6,482 shares of the company’s stock, valued at approximately $373,557.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. LADENBURG THALM/SH SH assumed coverage on Public Service Enterprise Group in a research note on Monday, April 3rd. They issued a “neutral” rating and a $60.50 price objective for the company. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, April 20th. StockNews.com initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet raised shares of Public Service Enterprise Group from a “c” rating to a “b” rating in a report on Tuesday, February 21st. Finally, BMO Capital Markets raised their price target on Public Service Enterprise Group from $60.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, April 14th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $60.80 on Thursday. The firm has a market capitalization of $30.34 billion, a PE ratio of 13.10, a P/E/G ratio of 4.11 and a beta of 0.56. The stock’s 50 day moving average is $62.16 and its two-hundred day moving average is $60.95. Public Service Enterprise Group Incorporated has a twelve month low of $52.51 and a twelve month high of $69.94. The company has a current ratio of 0.79, a quick ratio of 0.66 and a debt-to-equity ratio of 1.16.

Public Service Enterprise Group (NYSE:PEG – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.18. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Public Service Enterprise Group had a return on equity of 12.78% and a net margin of 20.64%. Public Service Enterprise Group’s revenue was up 62.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 earnings per share. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.44 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, June 8th. This represents a $2.28 annualized dividend and a yield of 3.75%. Public Service Enterprise Group’s payout ratio is currently 49.14%.

Public Service Enterprise Group Profile

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Public Service Enterprise Group, Inc is an energy company, which engages in the business of regulated electric and gas utility, and nuclear generation. Its products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. The firm operates through the Public Service Electric and Gas Company (PSE&G) and PSEG Power segments.