Accident Compensation Corp Maintains Holdings in Public Service Enterprise Group Incorporated (PEG)

Accident Compensation Corp continued to hold its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,700 shares of the utilities provider’s stock at the close of the second quarter. Accident Compensation Corp’s holdings in Public Service Enterprise Group were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in Public Service Enterprise Group by 4,031.7% during the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after purchasing an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 3.4% during the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock worth $1,554,116,000 after purchasing an additional 1,144,077 shares during the last quarter. State Street Corp increased its position in Public Service Enterprise Group by 1.2% during the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after purchasing an additional 319,134 shares during the last quarter. Federated Investors Inc. PA increased its position in Public Service Enterprise Group by 179.9% during the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after purchasing an additional 4,314,015 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Public Service Enterprise Group by 3.4% during the first quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock worth $241,006,000 after purchasing an additional 178,078 shares during the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (NYSE PEG) remained flat at $45.82 during midday trading on Monday. 132,567 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $46.19 and its 200-day moving average price is $44.65. The firm has a market capitalization of $23.18 billion, a price-to-earnings ratio of 51.48 and a beta of 0.39. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period in the previous year, the company earned $0.57 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 193.26%.

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In other news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Insiders have sold 54,900 shares of company stock worth $2,413,947 in the last ninety days. 0.61% of the stock is currently owned by insiders.

PEG has been the subject of several research analyst reports. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, August 1st. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.50 to $50.00 in a research report on Friday, August 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.46.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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