Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Public Service Enterprise Group Inc. (PEG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 1.5% during the first quarter, Holdings Channel reports. The institutional investor owned 107,803 shares of the utilities provider’s stock after buying an additional 1,551 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Service Enterprise Group were worth $4,781,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Public Service Enterprise Group by 2.4% in the fourth quarter. State Street Corp now owns 26,757,165 shares of the utilities provider’s stock worth $1,174,104,000 after buying an additional 617,452 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 worth $610,644,000 after buying an additional 207,819 shares in the last quarter. AQR Capital Management LLC raised its position in Public Service Enterprise Group by 6.1% in the fourth quarter. AQR Capital Management LLC now owns 9,408,592 shares of the utilities provider’s stock worth $412,849,000 after buying an additional 543,296 shares in the last quarter. Nordea Investment Management AB raised its position in Public Service Enterprise Group by 67.0% in the third quarter. Nordea Investment Management AB now owns 9,042,998 shares of the utilities provider’s stock worth $378,630,000 after buying an additional 3,629,004 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 worth $322,282,000 after buying an additional 534,074 shares in the last quarter. 63.26% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.41% on Friday, hitting $43.97. 1,739,786 shares of the stock were exchanged. The company has a market cap of $22.24 billion, a P/E ratio of 42.28 and a beta of 0.33. The firm’s 50-day moving average is $44.17 and its 200-day moving average is $43.49. Public Service Enterprise Group Inc. has a one year low of $39.28 and a one year high of $46.81.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, April 28th. The utilities provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.56 billion. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter in the prior year, the business earned $0.91 EPS. On average, equities analysts forecast that Public Service Enterprise Group Inc. will post $2.90 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.72 annualized dividend and a yield of 3.93%. Public Service Enterprise Group’s dividend payout ratio is presently 64.57%.

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A number of equities analysts recently issued reports on PEG shares. Jefferies Group LLC reissued a “hold” rating and set a $46.50 price target (up previously from $43.50) on shares of Public Service Enterprise Group in a report on Monday, February 27th. Wells Fargo & Co lowered Public Service Enterprise Group from an “outperform” rating to a “market perform” rating in a report on Monday, February 27th. Royal Bank of Canada lowered their price target on Public Service Enterprise Group from $48.00 to $47.00 and set a “sector perform” rating on the stock in a report on Friday, March 10th. Barclays PLC reduced their price objective on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 4th. Finally, Deutsche Bank AG reduced their price objective on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $46.36.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $44.14, for a total value of $1,324,200.00. Following the transaction, the chairman now owns 741,932 shares in the company, valued at approximately $32,748,878.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total transaction of $87,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,000 shares of company stock worth $4,058,520. Company insiders own 0.71% 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.

5 Day Chart for NYSE:PEG

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