Schroder Investment Management Group Has $4.51 Million Stake in Public Service Enterprise Group Inc. (PEG)

Schroder Investment Management Group grew its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 79.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 83,255 shares of the utilities provider’s stock after acquiring an additional 36,796 shares during the period. Schroder Investment Management Group’s holdings in Public Service Enterprise Group were worth $4,512,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Research & Management Co. bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $108,000. NuWave Investment Management LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $118,000. Squar Milner Financial Services LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $149,000. Cordasco Financial Network increased its position in shares of Public Service Enterprise Group by 63.1% in the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $161,000. Hedge funds and other institutional investors own 68.43% of the company’s stock.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $50.60, for a total transaction of $1,054,149.80. Following the transaction, the chairman now directly owns 557,716 shares in the company, valued at $28,220,429.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 123,069 shares of company stock worth $6,430,191 over the last quarter. Company insiders own 0.58% of the company’s stock.

PEG stock opened at $54.88 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $27.11 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.91 and a beta of 0.32. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $55.36.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the business earned $0.62 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.09 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Argus upped their price objective on shares of Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley set a $59.00 price objective on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research report on Thursday, October 11th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. UBS Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a research report on Wednesday, October 10th. Finally, Citigroup upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a research report on Tuesday, October 9th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $55.85.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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