American National Insurance Co. TX maintained its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,600 shares of the utilities provider’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Public Service Enterprise Group were worth $1,660,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Welch & Forbes LLC raised its stake in shares of Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock valued at $368,000 after buying an additional 38 shares in the last quarter. Trustmark National Bank Trust Department raised its position in shares of Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock valued at $274,000 after buying an additional 57 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its position in shares of Public Service Enterprise Group by 1.0% in the first quarter. Alpha Cubed Investments LLC now owns 5,955 shares of the utilities provider’s stock valued at $264,000 after buying an additional 58 shares in the last quarter. 66.42% of the stock is owned by institutional investors.

Public Service Enterprise Group Incorporated (PEG) opened at 44.47 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $46.68. The stock has a market capitalization of $22.50 billion, a PE ratio of 42.76 and a beta of 0.38. The firm has a 50-day moving average price of $43.62 and a 200 day moving average price of $44.04.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.08. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.56 billion. Public Service Enterprise Group had a return on equity of 11.17% and a net margin of 5.86%. During the same period in the prior year, the company earned $0.91 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.90 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is presently 165.39%.

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Several brokerages have commented on PEG. Mizuho began coverage on Public Service Enterprise Group in a research report on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price objective for the company. Deutsche Bank AG lowered their price objective on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, April 11th. Barclays PLC raised their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Finally, BidaskClub lowered Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.10.

In other news, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $43.82, for a total value of $1,314,600.00. Following the completion of the transaction, the chairman now directly owns 748,691 shares in the company, valued at $32,807,639.62. The disclosure for this sale can be found here. Insiders sold 86,021 shares of company stock worth $3,733,335 over the last three months. Corporate 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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