Daiwa Securities Group Inc. Has $4 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Daiwa Securities Group Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,213 shares of the utilities provider’s stock after buying an additional 5,027 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Public Service Enterprise Group were worth $3,995,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Gilbert & Cook Inc. increased its holdings in Public Service Enterprise Group by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock worth $448,000 after purchasing an additional 373 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $273,000. Dimensional Fund Advisors LP raised its holdings in Public Service Enterprise Group by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,500,036 shares of the utilities provider’s stock valued at $91,726,000 after buying an additional 30,414 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Public Service Enterprise Group by 93.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 26,468 shares of the utilities provider’s stock worth $1,619,000 after buying an additional 12,795 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Public Service Enterprise Group by 6.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 509,955 shares of the utilities provider’s stock worth $31,520,000 after acquiring an additional 28,735 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated 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 owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,068 shares of company stock valued at $2,406,965. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 1.4 %

NYSE:PEG opened at $83.31 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $53.71 and a 12 month high of $83.45. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $41.50 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 2.91 and a beta of 0.60. The firm has a fifty day simple moving average of $78.61 and a two-hundred day simple moving average of $72.60.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. Analysts expect that Public Service Enterprise Group Incorporated will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a yield of 2.88%. Public Service Enterprise Group’s payout ratio is 66.48%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEG. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Monday, June 17th. Mizuho increased their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Scotiabank increased their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

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.