British Airways Pensions Investment Management Ltd cut its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 83.6% during the second quarter, Holdings Channel reports. The firm owned 100,000 shares of the company’s stock after selling 508,059 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Public Service Enterprise Group were worth $4,679,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PEG. Legal & General Group Plc boosted its position in shares of Public Service Enterprise Group by 1.2% in the first quarter. Legal & General Group Plc now owns 2,623,754 shares of the company’s stock worth $123,677,000 after buying an additional 30,319 shares during the last quarter. Gofen & Glossberg LLC IL boosted its position in shares of Public Service Enterprise Group by 35.0% in the second quarter. Gofen & Glossberg LLC IL now owns 13,976 shares of the company’s stock worth $651,000 after buying an additional 3,620 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Public Service Enterprise Group by 1.3% in the first quarter. Envestnet Asset Management Inc. now owns 92,793 shares of the company’s stock worth $4,374,000 after buying an additional 1,230 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Public Service Enterprise Group by 56.9% in the second quarter. Nisa Investment Advisors LLC now owns 129,870 shares of the company’s stock worth $6,053,000 after buying an additional 47,120 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $135,000. Hedge funds and other institutional investors own 66.37% of the company’s stock.

Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.09% during midday trading on Thursday, reaching $43.67. 3,160,334 shares of the company were exchanged. The firm’s 50-day moving average price is $43.11 and its 200 day moving average price is $44.91. The stock has a market capitalization of $22.09 billion, a price-to-earnings ratio of 15.77 and a beta of 0.24. Public Service Enterprise Group Inc. has a 52-week low of $36.80 and a 52-week high of $47.41.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, July 29th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Public Service Enterprise Group had a net margin of 14.82% and a return on equity of 10.71%. During the same quarter in the prior year, the business posted $0.57 earnings per share. Equities analysts predict that Public Service Enterprise Group Inc. will post $2.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Wednesday, September 7th. Public Service Enterprise Group’s payout ratio is 59.21%.

A number of equities analysts have issued reports on the stock. Barclays PLC lifted their target price on shares of Public Service Enterprise Group from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday. Argus cut their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday. Zacks Investment Research cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Morgan Stanley upgraded shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $43.00 to $47.00 in a research report on Wednesday, July 13th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $47.00 price target on shares of Public Service Enterprise Group in a report on Wednesday, June 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.75.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 43,564 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $45.76, for a total value of $1,993,488.64. Following the completion of the sale, the chairman now directly owns 729,201 shares of the company’s stock, valued at approximately $33,368,237.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO William Levis sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $43.73, for a total transaction of $327,975.00. Following the completion of the sale, the chief operating officer now directly owns 156,671 shares of the company’s stock, valued at $6,851,222.83. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

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).

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