Ffcm LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,146 shares of the utilities provider’s stock after purchasing an additional 3,514 shares during the period. Ffcm LLC’s holdings in Public Service Enterprise Group were worth $1,382,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in 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 purchasing an additional 20 shares during the period. Premier Asset Management LLC boosted its holdings in Public Service Enterprise Group by 0.6% in the 2nd quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock valued at $230,000 after purchasing an additional 31 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in Public Service Enterprise Group by 0.5% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock valued at $368,000 after purchasing an additional 38 shares during the period. Advisor Partners LLC boosted its holdings in Public Service Enterprise Group by 0.5% in the 2nd quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock valued at $435,000 after purchasing an additional 48 shares during the period. Finally, Trustmark National Bank Trust Department boosted its holdings in Public Service Enterprise Group by 0.9% in the 1st quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock valued at $274,000 after purchasing an additional 57 shares during the period. 65.97% of the stock is owned by hedge funds and other institutional investors.

PEG has been the subject of a number of recent research reports. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. 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 report on Tuesday, July 4th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Royal Bank Of Canada reissued an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Public Service Enterprise Group has an average rating of “Buy” and a consensus price target of $48.21.

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In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the sale, 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 54,900 shares of company stock valued at $2,413,947 over the last 90 days. 0.61% of the stock is owned by company insiders.

Shares of Public Service Enterprise Group Incorporated (PEG) traded down 0.690% during mid-day trading on Tuesday, hitting $46.199. 591,494 shares of the stock were exchanged. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $47.47. The stock has a market capitalization of $23.37 billion, a price-to-earnings ratio of 51.909 and a beta of 0.39. The stock’s 50-day moving average is $45.59 and its 200-day moving average is $44.54.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.33 billion. During the same period last year, the business earned $0.57 earnings per share. Analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

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

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.

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

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