Meiji Yasuda Asset Management Co Ltd. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 72.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,687 shares of the utilities provider’s stock after selling 23,025 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Public Service Enterprise Group were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. BlackRock Inc. increased 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 during the period. Federated Investors Inc. PA increased its stake in Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock valued at $288,677,000 after buying an additional 4,314,015 shares during the period. BNP Paribas Arbitrage SA increased its stake in Public Service Enterprise Group by 179.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock valued at $92,943,000 after buying an additional 1,387,377 shares during the period. Vanguard Group Inc. increased 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 during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the period. Hedge funds and other institutional investors own 65.96% of the company’s stock.

Public Service Enterprise Group Incorporated (NYSE PEG) opened at 46.83 on Thursday. The firm has a market cap of $23.69 billion, a PE ratio of 52.62 and a beta of 0.38. The company’s 50 day moving average price is $44.92 and its 200 day moving average price is $44.41. Public Service Enterprise Group Incorporated has a 52-week low of $39.28 and a 52-week high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same period last year, the firm earned $0.57 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 193.26%.

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PEG has been the subject of several recent analyst reports. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. BidaskClub upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, Morgan Stanley upped their price target on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.21.

In related news, Chairman Ralph Izzo sold 30,000 shares of the firm’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 directly owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by insiders.

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.

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

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