Amundi Asset Management US Inc. Buys 63,013 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Amundi Asset Management US Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,361,788 shares of the utilities provider’s stock after acquiring an additional 63,013 shares during the quarter. Amundi Asset Management US Inc.’s holdings in Public Service Enterprise Group were worth $142,223,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $25,000. Allred Capital Management LLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at $27,000. JJJ Advisors Inc. increased its holdings in shares of Public Service Enterprise Group by 321.1% during the first quarter. JJJ Advisors Inc. now owns 480 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 366 shares in the last quarter. Valley Brook Capital Group bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $29,000. Finally, Total Clarity Wealth Management Inc. bought a new stake in Public Service Enterprise Group in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 69.93% of the company’s stock.

In other news, EVP Tamara Louise Linde sold 29,500 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 14th. The stock was sold at an average price of $61.71, for a total transaction of $1,820,445.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Ralph A. Larossa sold 4,890 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $62.05, for a total value of $303,424.50. Following the transaction, the chief operating officer now directly owns 89,918 shares in the company, valued at $5,579,411.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,080 shares of company stock worth $2,485,154. Insiders own 0.52% of the company’s stock.

Public Service Enterprise Group stock opened at $60.05 on Thursday. The company’s 50-day moving average price is $61.10. The company has a market cap of $30.35 billion, a P/E ratio of 16.49, a P/E/G ratio of 4.90 and a beta of 0.54. Public Service Enterprise Group Incorporated has a 52-week low of $50.32 and a 52-week high of $64.30. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 0.94.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.16. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.25 billion. Public Service Enterprise Group had a return on equity of 11.77% and a net margin of 21.68%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 8th will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, September 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.40%. Public Service Enterprise Group’s payout ratio is currently 59.48%.

PEG has been the subject of several research analyst reports. KeyCorp lifted their price objective on Public Service Enterprise Group from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. Seaport Res Ptn upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating in a report on Monday, May 24th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $67.50 in a report on Thursday, April 29th. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $64.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, April 14th. They noted that the move was a valuation call. Finally, Seaport Global Securities upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, May 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.39.

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 PSEG 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.

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

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