Public Service Enterprise Group Inc. (NYSE:PEG) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 53.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,682 shares of the utilities provider’s stock after selling 4,167 shares during the period. OLD National Bancorp IN’s holdings in Public Service Enterprise Group were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Ceredex Value Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth about $147,966,000. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 42.7% during the 1st quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock worth $385,966,000 after acquiring an additional 1,942,914 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 16.0% during the 1st quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock worth $321,130,000 after acquiring an additional 752,831 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Public Service Enterprise Group by 94.8% during the 1st quarter. Jennison Associates LLC now owns 1,107,621 shares of the utilities provider’s stock worth $65,804,000 after acquiring an additional 539,167 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Public Service Enterprise Group by 18.2% during the 1st quarter. California Public Employees Retirement System now owns 3,258,390 shares of the utilities provider’s stock worth $193,581,000 after acquiring an additional 501,333 shares in the last quarter. 68.76% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. UBS Group set a $67.00 target price on shares of Public Service Enterprise Group and gave the stock a “buy” rating in a research note on Wednesday. Citigroup lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Monday. Bank of America lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research note on Friday, July 19th. Mizuho increased their target price on shares of Public Service Enterprise Group from $61.50 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, KeyCorp assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $62.41.

In related news, CFO Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $59.25, for a total value of $37,031.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Ralph A. Larossa sold 1,650 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $58.80, for a total transaction of $97,020.00. Following the completion of the transaction, the chief operating officer now directly owns 85,068 shares in the company, valued at $5,001,998.40. The disclosure for this sale can be found here. Insiders sold a total of 162,396 shares of company stock worth $9,436,384 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group stock traded down $0.15 during midday trading on Friday, reaching $57.03. The company had a trading volume of 138,870 shares, compared to its average volume of 2,111,456. The company has a market capitalization of $29.26 billion, a P/E ratio of 18.27, a P/E/G ratio of 4.55 and a beta of 0.38. Public Service Enterprise Group Inc. has a 12-month low of $49.22 and a 12-month high of $61.63. The business has a fifty day moving average of $59.85. The company has a quick ratio of 0.52, a current ratio of 0.68 and a debt-to-equity ratio of 1.04.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 10.05%. During the same period in the prior year, the business posted $0.64 earnings per share. On average, research analysts forecast that Public Service Enterprise Group Inc. will post 3.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, September 6th. Public Service Enterprise Group’s dividend 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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