Renaissance Technologies LLC Sells 617,000 Shares of Public Service Enterprise Group Inc. (NYSE:PEG)

Renaissance Technologies LLC lessened its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 52.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 553,084 shares of the utilities provider’s stock after selling 617,000 shares during the period. Renaissance Technologies LLC owned 0.11% of Public Service Enterprise Group worth $32,532,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Zions Bancorporation N.A. acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $25,000. Berman Capital Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 79.0% in the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 203 shares in the last quarter. Thor Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $45,000. Executive Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 137.4% in the 2nd quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 452 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA boosted its holdings in shares of Public Service Enterprise Group by 357.4% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.

PEG has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Public Service Enterprise Group in a report on Tuesday, June 4th. They issued a “sector weight” rating and a $59.40 target price on the stock. Bank of America downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a report on Friday, July 19th. Mizuho raised their target price on Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. ValuEngine downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, UBS Group raised their price objective on Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and a consensus price target of $62.61.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 52,407 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $57.18, for a total transaction of $2,996,632.26. Following the transaction, the chairman now directly owns 373,588 shares of the company’s stock, valued at approximately $21,361,761.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Ralph A. Larossa sold 1,650 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $57.15, for a total value of $94,297.50. Following the transaction, the chief operating officer now directly owns 81,768 shares in the company, valued at $4,673,041.20. The disclosure for this sale can be found here. Insiders have sold a total of 113,815 shares of company stock worth $6,583,065 over the last ninety days. Company insiders own 0.51% of the company’s stock.

Shares of NYSE PEG traded down $0.57 during mid-day trading on Friday, hitting $60.88. 45,386 shares of the stock traded hands, compared to its average volume of 1,873,281. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. Public Service Enterprise Group Inc. has a twelve month low of $49.22 and a twelve month high of $62.22. The company has a market cap of $30.92 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 8.35 and a beta of 0.29. The firm has a 50 day simple moving average of $58.87 and a two-hundred day simple moving average of $59.38.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period last year, the business earned $0.64 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s payout ratio is presently 60.26%.

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; 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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