Russell Investments Group Ltd. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,090 shares of the utilities provider’s stock after buying an additional 45,229 shares during the period. Russell Investments Group Ltd.’s holdings in Public Service Enterprise Group were worth $14,635,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position 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 in the last quarter. Vanguard Group Inc. raised its position 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 in the last quarter. State Street Corp raised its position in Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after buying an additional 319,134 shares in the last quarter. LSV Asset Management raised its position in Public Service Enterprise Group by 1.5% in the first quarter. LSV Asset Management now owns 13,768,759 shares of the utilities provider’s stock valued at $610,644,000 after buying an additional 207,819 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Public Service Enterprise Group by 7.9% in the first quarter. Bank of New York Mellon Corp now owns 7,266,782 shares of the utilities provider’s stock valued at $322,282,000 after buying an additional 534,074 shares in the last quarter. 65.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group Incorporated (PEG) traded down 0.29% during midday trading on Friday, hitting $45.48. 1,072,521 shares of the company traded hands. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.14. The stock has a 50 day moving average of $43.86 and a 200-day moving average of $44.16. The stock has a market capitalization of $23.01 billion, a PE ratio of 51.10 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period last year, the firm posted $0.57 earnings per share. Equities analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 earnings per share 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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

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Several equities analysts have commented on PEG shares. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of 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. Barclays PLC raised their target price on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $47.75.

In related news, COO Ralph A. Larossa sold 24,021 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $43.55, for a total value of $1,046,114.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the completion of the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The disclosure for this sale can be found here. Insiders sold 77,421 shares of company stock worth $3,389,397 over the last ninety days. 0.61% of the stock is currently owned by insiders.

About Public Service Enterprise Group

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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