California Public Employees Retirement System decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,353,465 shares of the utilities provider’s stock after selling 5,900 shares during the quarter. California Public Employees Retirement System owned 0.27% of Public Service Enterprise Group worth $58,213,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PEG. UBS Asset Management Americas Inc. grew its stake in shares of Public Service Enterprise Group by 9.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,975,717 shares of the utilities provider’s stock worth $87,623,000 after purchasing an additional 163,629 shares in the last quarter. CIBC World Markets Inc. grew its stake in shares of Public Service Enterprise Group by 1,928.2% in the first quarter. CIBC World Markets Inc. now owns 650,051 shares of the utilities provider’s stock worth $28,830,000 after purchasing an additional 618,001 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Public Service Enterprise Group by 5.3% in the first quarter. Mutual of America Capital Management LLC now owns 93,659 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 4,682 shares in the last quarter. Ffcm LLC grew its stake in shares of Public Service Enterprise Group by 2.5% in the first quarter. Ffcm LLC now owns 28,632 shares of the utilities provider’s stock worth $1,270,000 after purchasing an additional 686 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in shares of Public Service Enterprise Group by 5.9% in the first quarter. Norinchukin Bank The now owns 37,794 shares of the utilities provider’s stock worth $1,676,000 after purchasing an additional 2,105 shares in the last quarter. 65.88% of the stock is owned by institutional investors.

Public Service Enterprise Group Incorporated (PEG) opened at 46.19 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $47.47. The company has a market cap of $23.37 billion, a PE ratio of 51.90 and a beta of 0.39. The company’s 50-day moving average price is $46.22 and its 200 day moving average price is $44.64.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same period 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 year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.72%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 193.26%.

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Several research analysts have recently issued reports on PEG shares. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Finally, Morgan Stanley increased 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. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Public Service Enterprise Group has a consensus rating of “Buy” and an average target price of $49.05.

In other news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. Insiders sold a total of 54,900 shares of company stock valued at $2,413,947 over the last three months. 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.

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

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