Hartford Financial Management Inc. Has $189,000 Position in Public Service Enterprise Group Inc. (PEG)

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Hartford Financial Management Inc. boosted its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 40.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,500 shares of the utilities provider’s stock after buying an additional 1,000 shares during the period. Hartford Financial Management Inc.’s holdings in Public Service Enterprise Group were worth $189,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Research & Management Co. purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at $108,000. NuWave Investment Management LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at $118,000. Squar Milner Financial Services LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at $149,000. Cordasco Financial Network grew its position in Public Service Enterprise Group by 63.1% in the 2nd quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,100 shares during the last quarter. Finally, Adviser Investments LLC grew its position in Public Service Enterprise Group by 98.8% in the 2nd quarter. Adviser Investments LLC now owns 3,224 shares of the utilities provider’s stock valued at $175,000 after buying an additional 1,602 shares during the last quarter. Hedge funds and other institutional investors own 68.45% of the company’s stock.

In related news, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $53.85, for a total value of $1,121,857.05. Following the sale, the chairman now directly owns 574,131 shares in the company, valued at approximately $30,916,954.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 62,499 shares of company stock worth $3,269,739 over the last quarter. Insiders own 0.58% of the company’s stock.

Shares of NYSE PEG opened at $52.25 on Thursday. Public Service Enterprise Group Inc. has a one year low of $45.05 and a one year high of $54.50. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.52 and a current ratio of 0.71. The firm has a market cap of $26.50 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 2.84 and a beta of 0.36.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the firm earned $0.62 EPS. analysts forecast that Public Service Enterprise Group Inc. will post 3.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 7th will be given a $0.45 dividend. The ex-dividend date is Thursday, September 6th. This represents a $1.80 annualized dividend and a dividend yield of 3.44%. Public Service Enterprise Group’s dividend payout ratio is presently 61.43%.

A number of research firms recently weighed in on PEG. Mizuho reiterated a “hold” rating and issued a $50.00 price objective on shares of Public Service Enterprise Group in a research report on Monday, August 6th. Goldman Sachs Group lowered shares of 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 boosted their target price on shares of Public Service Enterprise Group from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 16th. ValuEngine lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Citigroup boosted their target price on shares of 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. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $52.83.

About Public Service Enterprise Group

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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