Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 35.1% during the second quarter, Holdings Channel reports. The firm owned 4,701 shares of the utilities provider’s stock after selling 2,544 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $202,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEG. BlackRock Inc. raised its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares during the period. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the period. Canada Pension Plan Investment Board raised its stake in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the period. 65.76% of the stock is currently owned by institutional investors.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 45.77 on Wednesday. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 51.43 and a beta of 0.38. The company’s 50 day moving average price is $43.71 and its 200-day moving average price is $44.12. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same period in the previous year, the firm posted $0.57 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 3.76%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

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PEG has been the topic of several research reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Deutsche Bank AG lowered their target price on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, April 11th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, July 4th. Finally, BidaskClub lowered Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $47.30.

In other news, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the transaction, the chairman now owns 748,121 shares in the company, valued at approximately $32,042,022.43. The disclosure for this sale can be found here. Insiders sold a total of 77,421 shares of company stock worth $3,389,397 over the last 90 days. 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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