ING Groep NV Sells 7,645 Shares of Public Service Enterprise Group Inc. (PEG)

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ING Groep NV lessened its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 32.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 15,829 shares of the utilities provider’s stock after selling 7,645 shares during the period. ING Groep NV’s holdings in Public Service Enterprise Group were worth $857,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Public Service Enterprise Group by 2.5% during the first quarter. BlackRock Inc. now owns 49,608,001 shares of the utilities provider’s stock valued at $2,492,306,000 after purchasing an additional 1,187,565 shares during the period. JPMorgan Chase & Co. grew its holdings in Public Service Enterprise Group by 174.3% during the first quarter. JPMorgan Chase & Co. now owns 5,306,316 shares of the utilities provider’s stock valued at $266,590,000 after purchasing an additional 3,372,101 shares during the period. FMR LLC grew its holdings in Public Service Enterprise Group by 4.0% during the second quarter. FMR LLC now owns 4,829,070 shares of the utilities provider’s stock valued at $261,445,000 after purchasing an additional 184,169 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Public Service Enterprise Group by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,820,656 shares of the utilities provider’s stock valued at $191,950,000 after purchasing an additional 15,388 shares during the period. Finally, Legal & General Group Plc grew its holdings in Public Service Enterprise Group by 1.7% during the second quarter. Legal & General Group Plc now owns 3,278,681 shares of the utilities provider’s stock valued at $177,509,000 after purchasing an additional 53,372 shares during the period. 68.40% of the stock is owned by institutional investors and hedge funds.

NYSE PEG opened at $52.73 on Wednesday. The stock has a market capitalization of $26.45 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.52. Public Service Enterprise Group Inc. has a twelve month low of $45.05 and a twelve month high of $54.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates 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 company posted $0.62 earnings per share. equities research analysts predict that Public Service Enterprise Group Inc. will post 3.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, September 6th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 61.43%.

Several analysts have issued reports on the company. Mizuho reissued a “hold” rating and set a $50.00 price target on shares of Public Service Enterprise Group in a report on Monday, August 6th. Goldman Sachs Group lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $53.00 in a report on Thursday, July 19th. Morgan Stanley boosted their price target on Public Service Enterprise Group from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 16th. ValuEngine lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, Citigroup boosted their price target on Public Service Enterprise Group from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 9th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $52.83.

In other news, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $50.60, for a total value of $1,054,149.80. Following the completion of the transaction, the chairman now owns 557,716 shares of the company’s stock, valued at $28,220,429.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Public Service Enterprise Group Company 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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