ING Groep NV Makes New $22.44 Million Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

ING Groep NV acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 265,634 shares of the utilities provider’s stock, valued at approximately $22,443,000. ING Groep NV owned 0.05% of Public Service Enterprise Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Foundations Investment Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 27.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $8,244,000. Cullen Investment Group LTD. lifted its holdings in shares of Public Service Enterprise Group by 65.3% during the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock valued at $2,270,000 after purchasing an additional 10,610 shares during the last quarter. Arvest Bank Trust Division purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $2,860,000. Finally, Parsons Capital Management Inc. RI purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $2,565,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $84.54 on Friday. The firm has a market cap of $42.12 billion, a PE ratio of 20.77, a P/E/G ratio of 2.82 and a beta of 0.64. 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 has a fifty day simple moving average of $85.05 and a two-hundred day simple moving average of $85.84. Public Service Enterprise Group Incorporated has a 1-year low of $59.29 and a 1-year high of $95.22.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Monday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. This represents a $2.52 dividend on an annualized basis and a yield of 2.98%. Public Service Enterprise Group’s payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. UBS Group lifted their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating on shares of Public Service Enterprise Group in a report on Wednesday, December 11th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $88.00 to $84.00 in a report on Monday, January 27th. Finally, Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $88.83.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

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.