British Airways Pensions Investment Management Ltd lowered its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 83.6% during the second quarter, Holdings Channel reports. The institutional investor 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in shares of Public Service Enterprise Group by 9.0% in the first quarter. State Street Corp now owns 25,966,732 shares of the company’s stock worth $1,224,092,000 after buying an additional 2,147,656 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Public Service Enterprise Group by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 13,469,933 shares of the company’s stock worth $634,973,000 after buying an additional 191,992 shares during the period. BlackRock Fund Advisors increased its position in shares of Public Service Enterprise Group by 6.3% in the first quarter. BlackRock Fund Advisors now owns 13,106,827 shares of the company’s stock worth $617,856,000 after buying an additional 774,407 shares during the period. BlackRock Group LTD increased its position in shares of Public Service Enterprise Group by 5.6% in the first quarter. BlackRock Group LTD now owns 5,510,898 shares of the company’s stock worth $259,783,000 after buying an additional 294,107 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 1.5% in the first quarter. Geode Capital Management LLC now owns 4,631,091 shares of the company’s stock worth $217,917,000 after buying an additional 68,588 shares during the period. Institutional investors own 66.37% of the company’s stock.

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

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, July 29th. The company reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ 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 previous year, the company posted $0.57 earnings per share. On average, equities analysts predict that Public Service Enterprise Group Inc. will post $2.87 EPS for the current fiscal year.

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

PEG has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and issued a $47.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, June 15th. Argus reduced their price target 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. Morgan Stanley upgraded shares of Public Service Enterprise Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $43.00 to $47.00 in a research report on Wednesday, July 13th. Finally, Barclays PLC upped their price target 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $46.75.

In related news, COO William Levis sold 7,500 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $43.73, for a total value of $327,975.00. Following the completion of the sale, the chief operating officer now owns 156,671 shares in the company, valued at $6,851,222.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph Izzo sold 43,313 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $46.40, for a total transaction of $2,009,723.20. Following the completion of the sale, the chief executive officer now owns 717,755 shares of the company’s stock, valued at approximately $33,303,832. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate 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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