Public Service Enterprise Group Inc. (NYSE:PEG) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC grew its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,438 shares of the utilities provider’s stock after buying an additional 4,375 shares during the quarter. Profund Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,555,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Advisors Inc. lifted its holdings in shares of Public Service Enterprise Group by 15.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,256 shares of the utilities provider’s stock valued at $74,000 after buying an additional 170 shares during the period. Capital Investment Advisors LLC increased its stake in Public Service Enterprise Group by 2.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 6,860 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 170 shares in the last quarter. Bessemer Group Inc. increased its stake in Public Service Enterprise Group by 6.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,896 shares of the utilities provider’s stock valued at $171,000 after purchasing an additional 182 shares in the last quarter. ELCO Management Co. LLC increased its stake in Public Service Enterprise Group by 2.7% in the 2nd quarter. ELCO Management Co. LLC now owns 7,498 shares of the utilities provider’s stock valued at $441,000 after purchasing an additional 198 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its stake in Public Service Enterprise Group by 79.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. 69.38% of the stock is owned by institutional investors and hedge funds.

In related news, VP Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction on Monday, June 17th. The stock was sold at an average price of $60.92, for a total value of $38,075.00. Following the transaction, the vice president now owns 60,833 shares in the company, valued at $3,705,946.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $60.82, for a total value of $100,353.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,815 shares of company stock valued at $6,583,065. Company insiders own 0.51% of the company’s stock.



PEG has been the subject of several research analyst reports. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. UBS Group raised their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Barclays initiated coverage on Public Service Enterprise Group in a research note on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 price objective for the company. Bank of America downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a research report on Friday, July 19th. Finally, Morgan Stanley raised their price target on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Public Service Enterprise Group has a consensus rating of “Buy” and an average price target of $62.61.

Shares of NYSE:PEG traded down $0.78 during midday trading on Friday, reaching $60.67. The company’s stock had a trading volume of 102,970 shares, compared to its average volume of 1,873,281. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 8.35 and a beta of 0.29. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99. Public Service Enterprise Group Inc. has a 1 year low of $49.22 and a 1 year high of $62.22. The business has a 50 day moving average price of $58.87 and a 200 day moving average price of $59.38.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same period in the prior year, the firm earned $0.64 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Inc. will post 3.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s dividend payout ratio is currently 60.26%.

Public Service Enterprise Group Company Profile

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; 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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