Meeder Advisory Services Inc. Has $456,000 Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Meeder Advisory Services Inc. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,457 shares of the utilities provider’s stock after purchasing an additional 1,305 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Operose Advisors LLC grew its position in shares of Public Service Enterprise Group by 435.0% in the third quarter. Operose Advisors LLC now owns 535 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 435 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $31,000. Clear Street Markets LLC acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $31,000. CNB Bank acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $34,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research report on Monday, March 25th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Guggenheim downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price target on the stock. in a research report on Monday, January 22nd. Evercore ISI increased their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada increased their price target on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.33.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total value of $86,562.00. Following the completion of the transaction, the chief executive officer now directly owns 153,721 shares in the company, valued at approximately $9,684,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,800 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total value of $308,064.00. Following the completion of the sale, the senior vice president now owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,948 shares of company stock worth $510,300. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Up 0.4 %

NYSE PEG opened at $66.79 on Tuesday. The business has a fifty day moving average price of $62.53 and a two-hundred day moving average price of $61.48. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.67 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a fifty-two week low of $53.71 and a fifty-two week high of $67.51. The stock has a market capitalization of $33.30 billion, a PE ratio of 13.02, a PEG ratio of 2.91 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a return on equity of 11.53% and a net margin of 22.81%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the prior year, the company earned $0.64 EPS. Public Service Enterprise Group’s revenue was down 17.0% compared to the same quarter last year. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Thursday, March 7th. Public Service Enterprise Group’s dividend payout ratio is presently 46.78%.

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.