Dai ichi Life Insurance Company Ltd Has $3.85 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dai ichi Life Insurance Company Ltd increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,923 shares of the utilities provider’s stock after buying an additional 3,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Public Service Enterprise Group were worth $3,848,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after purchasing an additional 7,103,657 shares during the period. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $215,074,000. Hsbc Holdings PLC raised its stake in shares of Public Service Enterprise Group by 118.1% in the 3rd quarter. Hsbc Holdings PLC now owns 1,364,088 shares of the utilities provider’s stock valued at $77,544,000 after purchasing an additional 738,684 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after purchasing an additional 726,613 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Public Service Enterprise Group by 1,350.4% in the 3rd quarter. Bank of Nova Scotia now owns 533,354 shares of the utilities provider’s stock valued at $30,353,000 after purchasing an additional 496,581 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG traded down $0.88 during trading on Thursday, hitting $73.45. 235,877 shares of the stock traded hands, compared to its average volume of 2,816,111. Public Service Enterprise Group Incorporated has a twelve month low of $53.71 and a twelve month high of $75.17. The company has a market cap of $36.58 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.83 and a beta of 0.56. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The business has a 50 day moving average price of $68.25 and a 200 day moving average price of $63.77.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was down 26.5% on a year-over-year basis. Equities research analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.27%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.00, for a total transaction 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 $9,684,423. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Richard T. Thigpen sold 4,800 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares in the company, valued at $1,997,409.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.00, for a total transaction of $86,562.00. Following the transaction, the chief executive officer now owns 153,721 shares of the company’s stock, valued at $9,684,423. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,322 shares of company stock worth $607,376. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Scotiabank lowered their target price on Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. TheStreet raised Public Service Enterprise Group from a “c+” rating to a “b-” rating in a research report on Wednesday, March 6th. Barclays lifted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI lifted their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, BMO Capital Markets reduced their price target on Public Service Enterprise Group from $64.00 to $63.00 and set a “market perform” rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.31.

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.