Pioneer Investment Management Inc. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 34.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 517,358 shares of the utilities provider’s stock after selling 273,146 shares during the period. Pioneer Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $22,252,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its position in shares of 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 worth $2,145,620,000 after buying an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. raised its position in shares of 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 worth $1,554,116,000 after buying an additional 1,144,077 shares during the last quarter. State Street Corp raised its position in shares of 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 worth $1,200,831,000 after buying an additional 319,134 shares during the last quarter. LSV Asset Management raised its position in shares of 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 worth $610,644,000 after buying an additional 207,819 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of 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 worth $322,282,000 after buying an additional 534,074 shares during the last quarter. 65.76% of the stock is currently owned by institutional investors.

Shares of Public Service Enterprise Group Incorporated (PEG) opened at 45.61 on Friday. The firm has a 50-day moving average price of $43.86 and a 200 day moving average price of $44.16. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $46.14. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 51.25 and a beta of 0.38.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is presently 193.26%.

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PEG has been the topic of a number of recent analyst reports. BidaskClub raised Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. Barclays PLC upped their target price on Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Hold” and a consensus target price of $47.75.

In other news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the sale, the chairman now owns 748,474 shares of the company’s stock, valued at approximately $33,853,479.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Insiders have sold a total of 77,421 shares of company stock worth $3,389,397 in the last three months. 0.61% of the stock is owned by insiders.

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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