Legal & General Group Plc raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,140,935 shares of the utilities provider’s stock after buying an additional 167,240 shares during the period. Legal & General Group Plc owned about 0.62% of Public Service Enterprise Group worth $135,094,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in Public Service Enterprise Group by 13.1% in the second quarter. SG Americas Securities LLC now owns 94,759 shares of the utilities provider’s stock valued at $4,076,000 after buying an additional 10,994 shares during the period. Northpointe Capital LLC increased its stake in Public Service Enterprise Group by 25.7% in the second quarter. Northpointe Capital LLC now owns 111,708 shares of the utilities provider’s stock valued at $4,805,000 after buying an additional 22,839 shares during the period. NewSquare Capital LLC increased its stake in Public Service Enterprise Group by 7.5% in the second quarter. NewSquare Capital LLC now owns 19,529 shares of the utilities provider’s stock valued at $840,000 after buying an additional 1,369 shares during the period. State of Wisconsin Investment Board increased its stake in Public Service Enterprise Group by 63.5% in the second quarter. State of Wisconsin Investment Board now owns 673,444 shares of the utilities provider’s stock valued at $28,965,000 after buying an additional 261,630 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in Public Service Enterprise Group by 4.1% in the second quarter. Morningstar Investment Services LLC now owns 653,452 shares of the utilities provider’s stock valued at $28,105,000 after buying an additional 25,747 shares during the period. Institutional investors and hedge funds own 66.32% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 46.85 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.95. The stock has a 50 day moving average price of $44.44 and a 200 day moving average price of $44.32. The firm has a market cap of $23.70 billion, a PE ratio of 52.64 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.57 earnings per share. Equities analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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Several analysts recently issued reports on the company. BidaskClub upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Friday. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Citigroup Inc. restated a “neutral” rating and issued a $49.00 price target (up from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Finally, Zacks Investment Research downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.21.

In related news, Chairman Ralph Izzo sold 23,400 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the transaction, the chairman now owns 748,474 shares in the company, valued at approximately $33,853,479.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

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.

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

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