Wrapmanager Inc. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, Holdings Channel reports. The firm bought 11,155 shares of the utilities provider’s stock, valued at approximately $480,000.

A number of other institutional investors have also modified their holdings of PEG. BlackRock Inc. raised 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 last quarter. Vanguard Group Inc. raised 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 last quarter. Caisse DE Depot ET Placement DU Quebec raised 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 last quarter. Canada Pension Plan Investment Board raised its stake in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the last quarter. 66.32% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 45.92 on Tuesday. The company has a market capitalization of $23.23 billion, a P/E ratio of 51.60 and a beta of 0.38. The company’s 50 day moving average price is $43.98 and its 200-day moving average price is $44.21. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.14.

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 (EPS) for the quarter, topping the 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 firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business posted $0.57 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

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Several equities research analysts have recently commented on the stock. Barclays PLC upped their price target on shares of 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. Mizuho assumed coverage on shares of Public Service Enterprise Group in a research report on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price target for the company. BidaskClub lowered shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research raised shares of 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 report on Tuesday, July 4th. Finally, Morgan Stanley upped their price target on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.21.

In related news, 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 transaction of $1,046,114.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,421 shares of company stock valued at $3,389,397. 0.61% of the stock is owned by company 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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