Axa S.A. Increases Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Axa S.A. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,456 shares of the utilities provider’s stock after buying an additional 7,982 shares during the period. Axa S.A.’s holdings in Public Service Enterprise Group were worth $12,489,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEG. Hsbc Holdings PLC grew its stake in Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after purchasing an additional 732,443 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Public Service Enterprise Group by 23.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock worth $146,132,000 after buying an additional 455,693 shares in the last quarter. Raymond James & Associates increased its stake in shares of Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares during the period. Dimensional Fund Advisors LP raised its holdings in Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after acquiring an additional 163,333 shares in the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock worth $2,406,965 over the last 90 days. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $88.26 on Friday. The stock has a market capitalization of $43.96 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.20 and a beta of 0.60. The firm’s fifty day simple moving average is $80.76 and its 200-day simple moving average is $74.18. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $88.86.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. Public Service Enterprise Group’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 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 Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Bank of America lifted their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays lifted their price target on Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $81.46.

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.