Paloma Partners Management Co boosted its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 148.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,751 shares of the utilities provider’s stock after purchasing an additional 16,600 shares during the quarter. Paloma Partners Management Co’s holdings in Public Service Enterprise Group were worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in shares of Public Service Enterprise Group by 6.2% during the 2nd quarter. Macquarie Group Ltd. now owns 528,955 shares of the utilities provider’s stock valued at $28,638,000 after buying an additional 30,848 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $731,000. Point72 Hong Kong Ltd purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $182,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $236,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $343,000. Institutional investors and hedge funds own 68.45% of the company’s stock.

Several research firms have recently weighed in on PEG. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 13th. Citigroup lifted their target price on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, July 9th. Deutsche Bank cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Mizuho reiterated a “hold” rating and issued a $50.00 target price on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Public Service Enterprise Group currently has a consensus rating of “Buy” and a consensus price target of $52.83.

Shares of Public Service Enterprise Group stock opened at $53.27 on Monday. The firm has a market capitalization of $26.94 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.89 and a beta of 0.32. Public Service Enterprise Group Inc. has a 12-month low of $45.05 and a 12-month high of $54.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.52 and a current ratio of 0.71.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.37 billion. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. During the same quarter last year, the firm earned $0.62 EPS. research analysts expect that Public Service Enterprise Group Inc. will post 3.09 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $50.60, for a total value of $1,054,149.80. Following the sale, the chairman now owns 557,716 shares of the company’s stock, valued at approximately $28,220,429.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 91,495 shares of company stock worth $4,797,012. Insiders own 0.58% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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