Dai ichi Life Insurance Company Ltd Has $12.71 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Dai ichi Life Insurance Company Ltd lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 176.0% in the 2nd quarter, Holdings Channel reports. The firm owned 172,507 shares of the utilities provider’s stock after buying an additional 110,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Public Service Enterprise Group were worth $12,714,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth $36,000. Salomon & Ludwin LLC boosted its holdings in Public Service Enterprise Group by 1,866.7% during the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock valued at $2,406,965 in the last 90 days. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. Mizuho raised their price objective on shares of Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Royal Bank of Canada raised 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 research report on Monday, July 15th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday. They set a “hold” rating and a $85.00 target price on the stock. Finally, Scotiabank upped their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Trading Up 1.0 %

Shares of PEG opened at $84.16 on Friday. The stock has a fifty day moving average price of $78.81 and a two-hundred day moving average price of $72.77. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The company has a market cap of $41.93 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.99 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $53.71 and a 52-week high of $84.18.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s revenue was up .1% compared to the same quarter last year. Analysts predict 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Public Service Enterprise Group 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.