Pendal Group Ltd lifted its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 6.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,096,134 shares of the utilities provider’s stock after buying an additional 124,526 shares during the quarter. Public Service Enterprise Group makes up approximately 1.5% of Pendal Group Ltd’s portfolio, making the stock its 13th biggest position. Pendal Group Ltd owned 0.41% of Public Service Enterprise Group worth $109,701,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PEG. Zions Bancorporation N.A. acquired a new position in shares of Public Service Enterprise Group during the first quarter worth about $25,000. Berman Capital Advisors LLC grew its position in shares of Public Service Enterprise Group by 79.0% during the second quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock worth $27,000 after buying an additional 203 shares in the last quarter. Thor Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth about $45,000. Truvestments Capital LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth about $49,000. Finally, Icon Wealth Partners LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth about $58,000. 68.78% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Daniel J. Cregg sold 625 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $59.25, for a total transaction of $37,031.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $58.78, for a total value of $3,080,483.46. Following the sale, the chairman now owns 419,818 shares of the company’s stock, valued at approximately $24,676,902.04. The disclosure for this sale can be found here. Insiders sold 164,046 shares of company stock valued at $9,530,682 over the last three months. Corporate insiders own 0.51% of the company’s stock.

Shares of PEG stock traded up $0.45 during trading hours on Tuesday, hitting $57.68. The stock had a trading volume of 1,229,780 shares, compared to its average volume of 2,691,781. The company has a market capitalization of $29.19 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 7.85 and a beta of 0.33. Public Service Enterprise Group Inc. has a twelve month low of $49.22 and a twelve month high of $61.63. The stock has a 50 day moving average price of $59.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. During the same period in the previous year, the company posted $0.64 earnings per share. On average, research analysts expect that Public Service Enterprise Group Inc. will post 3.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s payout ratio is currently 60.26%.

PEG has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Bank of America downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Friday, July 19th. Mizuho upped their price target on Public Service Enterprise Group from $61.50 to $64.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, UBS Group set a $67.00 price target on Public Service Enterprise Group and gave the company a “buy” rating in a report on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $62.46.

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; 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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