Swiss National Bank Raises Stake in Public Service Enterprise Group Inc. (PEG)

Swiss National Bank boosted its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 27.2% during the first quarter, Holdings Channel reports. The fund owned 1,792,577 shares of the utilities provider’s stock after buying an additional 383,400 shares during the period. Swiss National Bank’s holdings in Public Service Enterprise Group were worth $79,501,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PEG. Crawford Investment Counsel Inc. increased its stake in shares of Public Service Enterprise Group by 10.6% in the first quarter. Crawford Investment Counsel Inc. now owns 5,224 shares of the utilities provider’s stock worth $232,000 after buying an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Public Service Enterprise Group by 1.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,803 shares of the utilities provider’s stock worth $4,781,000 after buying an additional 1,551 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Public Service Enterprise Group by 10.5% in the first quarter. Xact Kapitalforvaltning AB now owns 39,622 shares of the utilities provider’s stock worth $1,757,000 after buying an additional 3,749 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of 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 worth $34,308,000 after buying an additional 622,934 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of Public Service Enterprise Group by 67.8% in the first quarter. Suntrust Banks Inc. now owns 153,088 shares of the utilities provider’s stock worth $6,788,000 after buying an additional 61,870 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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

Public Service Enterprise Group Inc. (NYSE:PEG) traded up 0.46% during mid-day trading on Friday, reaching $43.99. 1,743,158 shares of the company’s stock traded hands. The company has a 50-day moving average of $44.17 and a 200-day moving average of $43.49. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 42.30 and a beta of 0.33. Public Service Enterprise Group Inc. has a 52-week low of $39.28 and a 52-week high of $46.81.

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Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.08. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.56 billion. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities research analysts expect that Public Service Enterprise Group Inc. will post $2.90 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 9th will be given a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.72 annualized dividend and a dividend yield of 3.93%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 64.57%.

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A number of brokerages recently commented on PEG. Royal Bank of Canada restated an “outperform” rating on shares of Public Service Enterprise Group in a research report on Wednesday, May 10th. Barclays PLC lifted their price target on shares of Public Service Enterprise Group from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 25th. Mizuho began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, April 19th. They set a “neutral” rating and a $44.50 price target for the company. Deutsche Bank AG reduced their price target on shares of Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, April 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $46.50 price target (up from $43.50) on shares of Public Service Enterprise Group in a research report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $46.36.

In related news, COO William Levis sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $44.40, for a total value of $1,332,000.00. Following the completion of the sale, the chief operating officer now owns 133,904 shares in the company, valued at approximately $5,945,337.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Derek M. Dirisio sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total transaction of $87,720.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,000 shares of company stock valued at $4,058,520. 0.71% of the stock is owned by 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.

5 Day Chart for NYSE:PEG

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