Janus Henderson Group PLC Boosts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Janus Henderson Group PLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,082 shares of the utilities provider’s stock after buying an additional 11,864 shares during the period. Janus Henderson Group PLC’s holdings in Public Service Enterprise Group were worth $9,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PEG. Erste Asset Management GmbH acquired a new stake in Public Service Enterprise Group during the third quarter worth $8,693,000. Edgestream Partners L.P. purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $372,000. Verition Fund Management LLC increased its position in shares of Public Service Enterprise Group by 179.5% during the 3rd quarter. Verition Fund Management LLC now owns 706,884 shares of the utilities provider’s stock worth $63,061,000 after purchasing an additional 453,985 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Public Service Enterprise Group by 5.4% in the third quarter. Rockefeller Capital Management L.P. now owns 195,564 shares of the utilities provider’s stock valued at $17,436,000 after buying an additional 9,989 shares during the last quarter. Finally, Vinva Investment Management Ltd acquired a new position in Public Service Enterprise Group in the third quarter valued at about $528,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,798 shares of company stock valued at $1,595,921. 0.57% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEG. Barclays reduced their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank increased their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of 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. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.08.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $90.00 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm’s fifty day simple moving average is $89.65 and its 200-day simple moving average is $82.03. The firm has a market capitalization of $44.84 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 3.37 and a beta of 0.62. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $0.85 EPS. Public Service Enterprise Group’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.67%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Public Service Enterprise Group Company 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.