Mirae Asset Global Investments Co. Ltd. Purchases 63,430 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mirae Asset Global Investments Co. Ltd. increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 203.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,541 shares of the utilities provider’s stock after buying an additional 63,430 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Public Service Enterprise Group were worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at $48,000. Financial Life Planners bought a new position in Public Service Enterprise Group during the 4th quarter worth $56,000. Legacy Investment Solutions LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth about $59,000. Finally, Brown Lisle Cummings Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $57,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This trade represents a 18.59 % 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, COO Kim C. Hanemann sold 956 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was 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 approximately $6,307,290.99. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,612 shares of company stock valued at $836,549. 0.18% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Down 0.4 %

PEG stock opened at $83.61 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a fifty-two week low of $57.40 and a fifty-two week high of $95.22. The stock’s 50 day simple moving average is $86.15 and its 200 day simple moving average is $85.35. The company has a market cap of $41.66 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Analysts Set New Price Targets

PEG has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. UBS Group raised their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays lowered shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $88.00 to $84.00 in a research note on Monday, January 27th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.83.

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.