Janus Capital Management LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 83.6% during the first quarter, Holdings Channel reports. The fund owned 76,995 shares of the utilities provider’s stock after selling 391,133 shares during the period. Janus Capital Management LLC’s holdings in Public Service Enterprise Group were worth $3,415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Public Service Enterprise Group by 17.0% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 21,645 shares of the utilities provider’s stock worth $960,000 after buying an additional 3,145 shares during the last quarter. Horizon Investment Services LLC increased its stake in Public Service Enterprise Group by 3.7% in the first quarter. Horizon Investment Services LLC now owns 15,709 shares of the utilities provider’s stock worth $697,000 after buying an additional 559 shares during the period. HighTower Advisors LLC increased its stake in Public Service Enterprise Group by 4.6% in the first quarter. HighTower Advisors LLC now owns 83,935 shares of the utilities provider’s stock worth $3,725,000 after buying an additional 3,716 shares during the period. Credit Suisse AG increased its stake in Public Service Enterprise Group by 8.7% in the first quarter. Credit Suisse AG now owns 1,187,755 shares of the utilities provider’s stock worth $52,678,000 after buying an additional 95,444 shares during the period. Finally, Caxton Associates LP bought a new stake in Public Service Enterprise Group during the first quarter worth about $554,000. 66.42% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Incorporated (PEG) opened at 42.37 on Monday. The stock has a market cap of $21.43 billion, a P/E ratio of 40.74 and a beta of 0.38. The stock has a 50 day moving average of $44.08 and a 200 day moving average of $44.12. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.67.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, April 28th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.56 billion. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. During the same quarter in the prior year, the business earned $0.91 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.90 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 9th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, June 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 165.39%.

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A number of research firms recently issued reports on PEG. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Mizuho began coverage on shares of Public Service Enterprise Group in a report on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price objective for the company. BidaskClub downgraded shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Finally, Barclays PLC raised their price objective on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Public Service Enterprise Group has an average rating of “Hold” and an average target price of $47.10.

In other news, insider Derek M. Dirisio sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total value of $87,720.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $43.82, for a total transaction of $1,314,600.00. Following the completion of the transaction, the chairman now owns 748,691 shares in the company, valued at approximately $32,807,639.62. The disclosure for this sale can be found here. Insiders sold a total of 86,021 shares of company stock worth $3,733,335 in the last quarter. Company insiders own 0.61% 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.

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

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