Mariner Wealth Advisors LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,012 shares of the utilities provider’s stock after selling 5,651 shares during the quarter. Mariner Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $474,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Public Service Enterprise Group by 19.7% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 381 shares during the period. Parallel Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 0.8% during the 1st quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock worth $114,000 after purchasing an additional 20 shares during the period. Hudock Capital Group LLC increased its holdings in shares of Public Service Enterprise Group by 38.8% during the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock worth $113,000 after purchasing an additional 735 shares during the period. Vantage Investment Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 35.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 2,685 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 700 shares during the period. Finally, Gradient Investments LLC increased its holdings in shares of Public Service Enterprise Group by 331.2% during the 2nd quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after purchasing an additional 2,484 shares during the period. Institutional investors own 65.88% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) opened at 46.19 on Monday. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 51.90 and a beta of 0.39. The stock’s 50 day moving average is $46.22 and its 200-day moving average is $44.64. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly 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. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the company posted $0.57 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.72%. Public Service Enterprise Group’s payout ratio is currently 193.26%.

In related news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group 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 sale, the chairman now directly owns 748,474 shares in the company, valued at approximately $33,853,479.02. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,900 shares of company stock worth $2,413,947. 0.61% of the stock is currently owned by corporate insiders.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday. Evercore ISI raised shares of Public Service Enterprise Group to an “outperform” rating in a research note on Monday. Barclays PLC raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $49.00 to $51.00 in a research note on Friday. Morgan Stanley raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and set a $53.00 target price on the stock in a research note on Thursday. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $49.05.

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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.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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