First Republic Investment Management Inc. lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,456 shares of the utilities provider’s stock after purchasing an additional 1,184 shares during the quarter. First Republic Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $715,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PEG. Grove Bank & Trust raised its stake in shares of Public Service Enterprise Group by 209.4% during the third quarter. Grove Bank & Trust now owns 2,274 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,539 shares during the last quarter. Hudock Capital Group LLC grew its holdings in Public Service Enterprise Group by 38.8% during the second quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after acquiring an additional 735 shares during the period. Vantage Investment Advisors LLC grew its holdings in Public Service Enterprise Group by 35.3% during the second quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 700 shares during the period. Parallel Advisors LLC grew its holdings in Public Service Enterprise Group by 6.0% during the second quarter. Parallel Advisors LLC now owns 2,772 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 157 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in Public Service Enterprise Group by 45.9% during the second quarter. IHT Wealth Management LLC now owns 642 shares of the utilities provider’s stock worth $131,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 66.77% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) traded up $0.36 during trading on Friday, reaching $52.30. The company’s stock had a trading volume of 5,502,561 shares, compared to its average volume of 3,710,243. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. The firm has a market capitalization of $26,283.65, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 6.47 and a beta of 0.41. Public Service Enterprise Group Incorporated has a 12 month low of $41.67 and a 12 month high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 2.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Thursday, December 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 166.99%.

A number of brokerages recently weighed in on PEG. Morgan Stanley upped their price objective on Public Service Enterprise Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Wells Fargo & Company raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Argus upped their price objective on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Bank of America began coverage on Public Service Enterprise Group in a report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $50.81.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 33,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total value of $1,653,960.00. Following the sale, the chief operating officer now owns 81,241 shares of the company’s stock, valued at $4,071,798.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the sale, the chairman now directly owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Insiders sold 263,951 shares of company stock worth $13,045,041 in the last three months. 0.61% of the stock is owned by corporate insiders.

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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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