PNC Financial Services Group Inc. decreased its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,823 shares of the company’s stock after selling 14,394 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Public Service Enterprise Group worth $19,672,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in PEG. Buffington Mohr McNeal raised its stake in Public Service Enterprise Group by 132.3% in the third quarter. Buffington Mohr McNeal now owns 55,250 shares of the company’s stock worth $2,313,000 after buying an additional 31,470 shares during the last quarter. Toronto Dominion Bank boosted its position in Public Service Enterprise Group by 430.7% in the third quarter. Toronto Dominion Bank now owns 14,776 shares of the company’s stock valued at $619,000 after buying an additional 11,992 shares during the last quarter. KBC Group NV boosted its position in Public Service Enterprise Group by 11.6% in the third quarter. KBC Group NV now owns 100,659 shares of the company’s stock valued at $4,215,000 after buying an additional 10,479 shares during the last quarter. Victory Capital Management Inc. boosted its position in Public Service Enterprise Group by 60.6% in the third quarter. Victory Capital Management Inc. now owns 135,658 shares of the company’s stock valued at $5,680,000 after buying an additional 51,186 shares during the last quarter. Finally, TD Asset Management Inc. boosted its position in Public Service Enterprise Group by 4.3% in the third quarter. TD Asset Management Inc. now owns 582,143 shares of the company’s stock valued at $24,374,000 after buying an additional 24,218 shares during the last quarter. Institutional investors own 64.42% of the company’s stock.

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

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) traded down 1.87% during midday trading on Wednesday, reaching $42.04. The company had a trading volume of 548,213 shares. The stock has a 50-day moving average of $41.06 and a 200 day moving average of $43.35. Public Service Enterprise Group Inc. has a 52 week low of $36.80 and a 52 week high of $47.41. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 16.55 and a beta of 0.28.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, October 31st. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a return on equity of 10.91% and a net margin of 13.99%. During the same period in the previous year, the business earned $0.80 EPS. On average, analysts anticipate that Public Service Enterprise Group Inc. will post $2.87 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 9th will be given a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.64 annualized dividend and a yield of 3.83%. Public Service Enterprise Group’s dividend payout ratio is currently 64.57%.

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PEG has been the subject of several recent analyst reports. Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 12th. Argus reduced their target price on Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, September 20th. Jefferies Group restated a “hold” rating and set a $43.50 target price on shares of Public Service Enterprise Group in a research report on Tuesday, November 1st. Barclays PLC boosted their target price on Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Finally, Goldman Sachs Group Inc. upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $47.00 in a research report on Monday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.17.

In related news, Chairman Ralph Izzo sold 25,895 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $41.74, for a total value of $1,080,857.30. Following the completion of the transaction, the chairman now owns 738,182 shares in the company, valued at $30,811,716.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.71% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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