Glenmede Trust Co. NA grew its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 18.3% in the 2nd quarter, Holdings Channel reports. The fund owned 147,948 shares of the utilities provider’s stock after acquiring an additional 22,860 shares during the period. Glenmede Trust Co. NA’s holdings in Public Service Enterprise Group were worth $8,009,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Argent Trust Co purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $361,000. Millennium Management LLC boosted its position in shares of Public Service Enterprise Group by 10.0% in the second quarter. Millennium Management LLC now owns 2,143,225 shares of the utilities provider’s stock worth $116,034,000 after buying an additional 195,140 shares during the period. Zurich Insurance Group Ltd FI boosted its position in shares of Public Service Enterprise Group by 33.0% in the second quarter. Zurich Insurance Group Ltd FI now owns 250,197 shares of the utilities provider’s stock worth $13,546,000 after buying an additional 62,078 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $161,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth about $1,016,000. Institutional investors own 68.40% of the company’s stock.

Shares of PEG opened at $52.14 on Monday. The stock has a market capitalization of $26.35 billion, a P/E ratio of 17.80, a price-to-earnings-growth ratio of 2.82 and a beta of 0.32. Public Service Enterprise Group Inc. has a one year low of $45.73 and a one year high of $54.50. The company has a quick ratio of 0.52, a current ratio of 0.71 and a debt-to-equity ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.37 billion. Public Service Enterprise Group had a return on equity of 11.03% and a net margin of 23.69%. During the same quarter in the prior year, the business posted $0.62 earnings per share. research analysts anticipate that Public Service Enterprise Group Inc. will post 3.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, September 6th. Public Service Enterprise Group’s dividend payout ratio is currently 61.43%.

In related news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $53.85, for a total value of $1,121,857.05. Following the completion of the transaction, the chairman now owns 574,131 shares of the company’s stock, valued at $30,916,954.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 91,495 shares of company stock valued at $4,797,012 in the last three months. 0.58% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on PEG. Goldman Sachs Group downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $53.00 in a research report on Thursday, July 19th. Morgan Stanley decreased their target price on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Friday. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Citigroup upped their target price on Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, July 9th. Finally, Deutsche Bank downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $53.18.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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