Seeyond Has $1.97 Million Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Seeyond lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 24.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,979 shares of the utilities provider’s stock after purchasing an additional 6,581 shares during the period. Seeyond’s holdings in Public Service Enterprise Group were worth $1,970,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PEG. Elmwood Wealth Management Inc. acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $30,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $38,000. Harbour Investments Inc. acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $53,000. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $57,000. Finally, Berman Capital Advisors LLC lifted its position in shares of Public Service Enterprise Group by 90.8% during the second quarter. Berman Capital Advisors LLC now owns 1,603 shares of the utilities provider’s stock worth $95,000 after purchasing an additional 763 shares in the last quarter. Institutional investors own 70.24% of the company’s stock.

In related news, COO Ralph A. Larossa sold 4,890 shares of the stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $64.60, for a total transaction of $315,894.00. Following the completion of the transaction, the chief operating officer now owns 75,533 shares in the company, valued at $4,879,431.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Rose M. Chernick sold 400 shares of the stock in a transaction on Tuesday, August 17th. The stock was sold at an average price of $64.71, for a total transaction of $25,884.00. The disclosure for this sale can be found here. Insiders have sold 20,863 shares of company stock valued at $1,298,333 in the last three months. 0.52% of the stock is owned by insiders.

PEG has been the subject of a number of recent research reports. KeyCorp boosted their price target on shares of Public Service Enterprise Group from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, August 13th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $75.00 to $73.00 and set an “overweight” rating for the company in a research note on Tuesday, September 28th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $65.00 to $67.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 28th. They noted that the move was a valuation call. Barclays boosted their price target on shares of Public Service Enterprise Group from $67.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 6th. Finally, Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $74.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, September 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $69.00.

NYSE:PEG traded up $0.41 during trading hours on Thursday, hitting $60.58. The stock had a trading volume of 5,245 shares, compared to its average volume of 2,064,199. Public Service Enterprise Group Incorporated has a one year low of $53.77 and a one year high of $65.33. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.53 and a current ratio of 0.71. The company has a market cap of $30.63 billion, a price-to-earnings ratio of 20.61, a P/E/G ratio of 4.99 and a beta of 0.54. The business’s 50 day moving average is $62.65 and its 200-day moving average is $61.94.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 3rd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.70. Public Service Enterprise Group had a net margin of 15.49% and a return on equity of 11.40%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Wednesday, September 8th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, September 7th. Public Service Enterprise Group’s dividend payout ratio is 59.48%.

About Public Service Enterprise Group

Public Service Enterprise Group, Inc is a holding company, which engages in the provision of electric and gas services. The firm operates through the following two segments: Public Service Electric & Gas Co (PSE&G) and PSEG Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas.

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

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