Cigna Investments Inc. New cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,443 shares of the utilities provider’s stock after selling 1,277 shares during the period. Cigna Investments Inc. New’s holdings in Public Service Enterprise Group were worth $836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Public Service Enterprise Group by 4,031.7% in the first quarter. BlackRock Inc. now owns 48,379,255 shares of the utilities provider’s stock valued at $2,145,620,000 after buying an additional 47,208,334 shares during the last quarter. Vanguard Group Inc. raised its position in Public Service Enterprise Group by 3.4% in the first quarter. Vanguard Group Inc. now owns 35,042,083 shares of the utilities provider’s stock valued at $1,554,116,000 after buying an additional 1,144,077 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Public Service Enterprise Group by 133.1% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,710,401 shares of the utilities provider’s stock valued at $75,939,000 after buying an additional 976,720 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Public Service Enterprise Group by 423.3% in the first quarter. Canada Pension Plan Investment Board now owns 912,237 shares of the utilities provider’s stock valued at $40,458,000 after buying an additional 737,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Public Service Enterprise Group by 413.5% in the first quarter. BNP Paribas Arbitrage SA now owns 773,583 shares of the utilities provider’s stock valued at $34,308,000 after buying an additional 622,934 shares during the last quarter. 65.76% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 45.53 on Friday. The stock has a market cap of $23.03 billion, a P/E ratio of 51.16 and a beta of 0.38. The company has a 50-day moving average of $43.92 and a 200-day moving average of $44.18. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.14.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 quarter last year, the company earned $0.57 earnings per share. On average, analysts predict that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

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PEG has been the subject of several recent research reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub lowered shares of Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Finally, Barclays PLC raised their price objective on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Hold” and an average target price of $48.21.

In other news, COO Ralph A. Larossa sold 24,021 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total transaction of $1,046,114.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ralph Izzo sold 23,400 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total value of $1,058,382.00. Following the transaction, the chairman now owns 748,474 shares of the company’s stock, valued at $33,853,479.02. The disclosure for this sale can be found here. Insiders sold 77,421 shares of company stock valued at $3,389,397 in the last ninety days. 0.61% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company Profile

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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