Public Service Enterprise Group Incorporated (PEG) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,324,233 shares of the utilities provider’s stock after selling 103,201 shares during the period. New York State Common Retirement Fund owned approximately 0.26% of Public Service Enterprise Group worth $56,955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BRYN MAWR TRUST Co boosted its position in shares of Public Service Enterprise Group by 1.2% in the second quarter. BRYN MAWR TRUST Co now owns 5,961 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 73 shares during the last quarter. Kempen Capital Management N.V. boosted its position in shares of Public Service Enterprise Group by 4.1% in the second quarter. Kempen Capital Management N.V. now owns 543,126 shares of the utilities provider’s stock worth $23,360,000 after acquiring an additional 21,450 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Public Service Enterprise Group by 0.9% in the second quarter. Thrivent Financial For Lutherans now owns 1,317,972 shares of the utilities provider’s stock worth $56,682,000 after acquiring an additional 11,390 shares during the last quarter. Sandy Spring Bank boosted its position in shares of Public Service Enterprise Group by 19.2% in the second quarter. Sandy Spring Bank now owns 4,886 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 787 shares during the last quarter. Finally, Profund Advisors LLC boosted its position in shares of Public Service Enterprise Group by 31.5% in the second quarter. Profund Advisors LLC now owns 53,073 shares of the utilities provider’s stock worth $2,283,000 after acquiring an additional 12,728 shares during the last quarter. 65.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 45.23 on Thursday. The stock’s 50 day moving average is $46.22 and its 200-day moving average is $44.64. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $47.47. The firm has a market cap of $22.88 billion, a P/E ratio of 50.82 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $0.57 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.80%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

In other news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the completion of the transaction, the chairman now directly owns 748,121 shares in the company, valued at $32,042,022.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction that occurred on 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. Over the last quarter, insiders have sold 54,900 shares of company stock valued at $2,413,947. Corporate insiders own 0.61% of the company’s stock.

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Several research firms recently issued reports on PEG. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday. Morgan Stanley raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research report on Thursday. They noted that the move was a valuation call. BidaskClub cut shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus target price of $48.50.

Public Service Enterprise Group 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.

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

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