Public Service Enterprise Group (PEG) Shares Sold by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. trimmed its stake in shares of Public Service Enterprise Group (NYSE:PEG) by 30.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234,146 shares of the utilities provider’s stock after selling 103,856 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Public Service Enterprise Group were worth $11,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PEG. Jennison Associates LLC bought a new position in Public Service Enterprise Group during the 4th quarter valued at $69,638,000. Amundi Pioneer Asset Management Inc. boosted its stake in Public Service Enterprise Group by 258.7% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,798,069 shares of the utilities provider’s stock valued at $92,601,000 after acquiring an additional 1,296,790 shares during the last quarter. BlackRock Inc. boosted its stake in Public Service Enterprise Group by 2.5% during the 1st quarter. BlackRock Inc. now owns 49,608,001 shares of the utilities provider’s stock valued at $2,492,306,000 after acquiring an additional 1,187,565 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in Public Service Enterprise Group by 646.7% during the 4th quarter. State of Tennessee Treasury Department now owns 1,175,992 shares of the utilities provider’s stock valued at $60,564,000 after acquiring an additional 1,018,491 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Public Service Enterprise Group by 14.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,947,022 shares of the utilities provider’s stock valued at $357,772,000 after acquiring an additional 892,228 shares during the last quarter. Hedge funds and other institutional investors own 68.55% of the company’s stock.

Shares of NYSE:PEG opened at $50.06 on Tuesday. The firm has a market cap of $25.12 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 3.41 and a beta of 0.38. Public Service Enterprise Group has a 1-year low of $41.67 and a 1-year high of $53.28. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.52 and a current ratio of 0.71.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, April 30th. The utilities provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by ($0.02). Public Service Enterprise Group had a return on equity of 11.22% and a net margin of 21.68%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company posted $0.92 earnings per share. equities research analysts anticipate that Public Service Enterprise Group will post 3.11 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 8th will be issued a $0.45 dividend. The ex-dividend date is Thursday, June 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.60%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 61.43%.

In related news, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $49.90, for a total value of $1,039,566.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 16,400 shares of the stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $50.36, for a total transaction of $825,904.00. Following the completion of the sale, the executive vice president now directly owns 51,604 shares in the company, valued at approximately $2,598,777.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,899 shares of company stock worth $3,956,687. Corporate insiders own 0.58% of the company’s stock.

A number of research analysts have commented on the stock. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Citigroup increased their price objective on shares of Public Service Enterprise Group from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, May 4th. Bank of America upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a research note on Monday, April 16th. JPMorgan Chase increased their price objective on shares of Public Service Enterprise Group from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, April 10th. Finally, Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $51.89.

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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