People s United Financial Inc. lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 174.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,059 shares of the utilities provider’s stock after purchasing an additional 5,119 shares during the quarter. People s United Financial Inc.’s holdings in Public Service Enterprise Group were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Public Service Enterprise Group by 4,031.7% during the 1st quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock worth $2,145,620,000 after purchasing an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after purchasing an additional 828,458 shares during the last quarter. State Street Corp increased its stake in shares of Public Service Enterprise Group by 1.2% during the 1st quarter. State Street Corp now owns 27,076,299 shares of the utilities provider’s stock worth $1,200,831,000 after purchasing an additional 319,134 shares during the last quarter. Federated Investors Inc. PA increased its stake in shares of Public Service Enterprise Group by 179.9% during the 2nd quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after purchasing an additional 4,314,015 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 3.4% during the 1st quarter. Geode Capital Management LLC now owns 5,441,323 shares of the utilities provider’s stock worth $241,006,000 after purchasing an additional 178,078 shares during the last quarter. Institutional investors own 65.88% of the company’s stock.

In related news, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the transaction, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were 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 quarter, insiders sold 45,733 shares of company stock worth $2,097,782. Corporate insiders own 0.61% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) opened at 47.60 on Friday. The company has a market capitalization of $24.08 billion, a P/E ratio of 53.48 and a beta of 0.38. The firm has a 50-day moving average of $46.47 and a 200-day moving average of $44.82. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $47.65.

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, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the company earned $0.57 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.61%. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

Several research analysts have recently commented on the stock. BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Evercore ISI upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $46.75 to $50.00 in a research note on Monday, September 25th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Finally, Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.50 to $50.00 in a research note on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus price target of $49.13.

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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.

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

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