Legacy Private Trust Co. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,583 shares of the utilities provider’s stock after selling 12,645 shares during the period. Legacy Private Trust Co.’s holdings in Public Service Enterprise Group were worth $584,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEG. BlackRock Inc. raised its stake in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares in the last quarter. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares in the last quarter. State Street Corp raised its stake in Public Service Enterprise Group by 1.2% in the first quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock valued at $1,200,831,000 after buying an additional 319,134 shares in the last quarter. LSV Asset Management raised its stake 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 valued at $610,644,000 after buying an additional 207,819 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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 valued at $322,282,000 after buying an additional 534,074 shares in the last quarter. Institutional investors and hedge funds own 66.42% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) opened at 42.37 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.67. The company has a 50-day moving average of $44.08 and a 200 day moving average of $44.12. The company has a market cap of $21.43 billion, a P/E ratio of 40.74 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.08. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the company earned $0.91 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post $2.90 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 9th were paid a $0.43 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $1.72 dividend on an annualized basis and a yield of 4.06%. Public Service Enterprise Group’s dividend payout ratio is presently 165.39%.

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Several analysts recently issued reports on PEG shares. Barclays PLC reduced their price target on shares of Public Service Enterprise Group from $49.00 to $47.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Tuesday, July 4th. Deutsche Bank AG reduced their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, April 11th. BidaskClub lowered shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $47.10.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the transaction, the chairman now owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Derek M. Dirisio sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was 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 three months, insiders sold 86,021 shares of company stock valued at $3,733,335. Corporate insiders own 0.61% of the company’s stock.

About Public Service Enterprise Group

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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