Pacer Advisors Inc. Buys 17,909 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Pacer Advisors Inc. lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 84,044 shares of the utilities provider’s stock after purchasing an additional 17,909 shares during the quarter. Pacer Advisors Inc.’s holdings in Public Service Enterprise Group were worth $7,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cypress Capital Group purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $269,000. Intech Investment Management LLC boosted its holdings in Public Service Enterprise Group by 58.6% during the 3rd quarter. Intech Investment Management LLC now owns 29,352 shares of the utilities provider’s stock valued at $2,618,000 after acquiring an additional 10,850 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Public Service Enterprise Group by 10.1% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 137,423 shares of the utilities provider’s stock valued at $12,259,000 after acquiring an additional 12,593 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Public Service Enterprise Group by 16.2% in the third quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock worth $931,000 after purchasing an additional 1,453 shares during the period. Finally, Howe & Rusling Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $488,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity

In other news, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $90.09, for a total transaction of $86,126.04. Following the sale, the chief operating officer now directly owns 70,011 shares of the company’s stock, valued at $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,739 shares of company stock worth $2,467,753 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PEG shares. Morgan Stanley raised 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 note on Monday, September 23rd. Bank of America lifted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI increased their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. UBS Group lifted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Trading Up 0.1 %

NYSE:PEG opened at $92.40 on Friday. The firm has a 50 day moving average of $88.38 and a 200 day moving average of $80.67. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $93.00. The stock has a market capitalization of $46.04 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 3.39 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.60%. Public Service Enterprise Group’s payout ratio is 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.