Los Angeles Capital Management & Equity Research Inc. Has $8.47 Million Stake in Public Service Enterprise Group Incorporated (PEG)

Los Angeles Capital Management & Equity Research Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,929 shares of the utilities provider’s stock after selling 5,581 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Public Service Enterprise Group were worth $8,470,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. grew its stake in shares of Public Service Enterprise Group by 19.7% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after buying an additional 381 shares during the period. Hudock Capital Group LLC grew its stake in shares of Public Service Enterprise Group by 38.8% in the 2nd quarter. Hudock Capital Group LLC now owns 2,629 shares of the utilities provider’s stock valued at $113,000 after buying an additional 735 shares during the period. Parallel Advisors LLC grew its stake in shares of Public Service Enterprise Group by 0.8% in the 1st quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares during the period. Kistler Tiffany Companies LLC grew its stake in shares of Public Service Enterprise Group by 3.8% in the 1st quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after buying an additional 99 shares during the period. Finally, YorkBridge Wealth Partners LLC grew its stake in shares of Public Service Enterprise Group by 21.5% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock valued at $134,000 after buying an additional 543 shares during the period. 65.97% of the stock is owned by institutional investors and hedge funds.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total transaction of $70,665.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total transaction of $1,284,900.00. Following the sale, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,900 shares of company stock valued at $2,413,947. 0.61% of the stock is owned by insiders.

Several analysts have recently weighed in on the stock. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday. BidaskClub upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Mizuho upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Citigroup Inc. restated a “neutral” rating and issued a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. 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 stock has an average rating of “Buy” and an average price target of $48.38.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.45 on Monday. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $47.47. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 52.19 and a beta of 0.39. The firm’s 50-day moving average is $45.94 and its 200-day moving average is $44.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.72 annualized dividend and a yield of 3.70%. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

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About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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