Sei Investments Co. Has $24.02 Million Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sei Investments Co. trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.8% in the fourth quarter, Holdings Channel reports. The fund owned 284,345 shares of the utilities provider’s stock after selling 79,176 shares during the period. Sei Investments Co.’s holdings in Public Service Enterprise Group were worth $24,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in shares of Public Service Enterprise Group by 16.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,433 shares of the utilities provider’s stock valued at $931,000 after purchasing an additional 1,453 shares during the period. Cerity Partners LLC lifted its stake in Public Service Enterprise Group by 36.1% in the third quarter. Cerity Partners LLC now owns 96,118 shares of the utilities provider’s stock valued at $8,575,000 after buying an additional 25,503 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 12.3% in the third quarter. Daiwa Securities Group Inc. now owns 60,864 shares of the utilities provider’s stock valued at $5,430,000 after buying an additional 6,651 shares during the period. Fisher Asset Management LLC increased its position in shares of Public Service Enterprise Group by 4.0% during the third quarter. Fisher Asset Management LLC now owns 7,342 shares of the utilities provider’s stock worth $655,000 after acquiring an additional 283 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Public Service Enterprise Group by 307.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 4,674 shares of the utilities provider’s stock worth $417,000 after acquiring an additional 3,526 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $83.10, for a total value of $114,511.80. Following the transaction, the chief executive officer now directly owns 126,791 shares of the company’s stock, valued at $10,536,332.10. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America lowered their target price on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. StockNews.com raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 26th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.65.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.48 on Thursday. The company has a market cap of $40.62 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.78 and a beta of 0.60. The firm has a 50-day moving average of $83.31 and a 200-day moving average of $86.09. Public Service Enterprise Group Incorporated has a one year low of $64.03 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $0.54 earnings per share. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Monday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. Public Service Enterprise Group’s dividend payout ratio is 71.19%.

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.