Fort Washington Investment Advisors Inc. OH Lowers Position in Public Service Enterprise Group Incorporated (PEG)

Fort Washington Investment Advisors Inc. OH reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,449 shares of the utilities provider’s stock after selling 1,326 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Public Service Enterprise Group were worth $793,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Raymond James Trust N.A. raised its stake in Public Service Enterprise Group by 17.0% in the 2nd quarter. Raymond James Trust N.A. now owns 79,328 shares of the utilities provider’s stock valued at $3,411,000 after acquiring an additional 11,531 shares during the period. Stephens Inc. AR bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $2,458,000. Northwestern Mutual Wealth Management Co. raised its stake in Public Service Enterprise Group by 4.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 23,826 shares of the utilities provider’s stock valued at $1,025,000 after acquiring an additional 931 shares during the period. Jackson Wealth Management LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $490,000. Finally, Vantage Investment Advisors LLC raised its stake in Public Service Enterprise Group by 35.3% in the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 65.88% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) opened at 45.82 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $47.47. The company has a market capitalization of $23.18 billion, a PE ratio of 51.48 and a beta of 0.39. The stock’s 50 day moving average price is $46.19 and its 200 day moving average price is $44.65.

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

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

In other news, Chairman Ralph Izzo sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the transaction, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders sold 54,900 shares of company stock worth $2,413,947 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

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

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About Public Service Enterprise Group

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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