Rothschild Investment Corp IL Invests $2.39 Million in Public Service Enterprise Group Incorporated (NYSE:PEG)

Rothschild Investment Corp IL purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 55,650 shares of the utilities provider’s stock, valued at approximately $2,394,000.

A number of other large investors have also made changes to their positions in PEG. Bronfman E.L. Rothschild L.P. raised its stake in shares of Public Service Enterprise Group by 19.7% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,314 shares of the utilities provider’s stock valued at $103,000 after buying an additional 381 shares during the period. Parallel Advisors LLC raised its stake in shares of Public Service Enterprise Group by 0.8% in the first quarter. Parallel Advisors LLC now owns 2,615 shares of the utilities provider’s stock valued at $114,000 after buying an additional 20 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of Public Service Enterprise Group by 3.8% in the first quarter. Kistler Tiffany Companies LLC now owns 2,684 shares of the utilities provider’s stock valued at $119,000 after buying an additional 99 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 21.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 3,065 shares of the utilities provider’s stock valued at $134,000 after buying an additional 543 shares during the period. Finally, Gradient Investments LLC raised its stake in shares of Public Service Enterprise Group by 331.2% in the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock valued at $139,000 after buying an additional 2,484 shares during the period. 65.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Public Service Enterprise Group Incorporated (NYSE PEG) opened at 45.44 on Thursday. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $46.14. The firm has a market capitalization of $22.99 billion, a P/E ratio of 51.06 and a beta of 0.38. The company has a 50 day moving average of $43.82 and a 200-day moving average of $44.15.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a return on equity of 11.46% and a net margin of 4.88%. During the same quarter in the previous year, the business earned $0.57 earnings per share. Analysts predict that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is 193.26%.

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Several research firms have recently weighed in on PEG. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Mizuho began coverage on shares of Public Service Enterprise Group in a report on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 target price on the stock. Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Public Service Enterprise Group in a report on Wednesday, May 10th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus target price of $47.30.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $42.83, for a total value of $1,284,900.00. Following the completion of the sale, the chairman now owns 748,121 shares of the company’s stock, valued at approximately $32,042,022.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Ralph A. Larossa sold 24,021 shares of Public Service Enterprise Group stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $43.55, for a total value of $1,046,114.55. The disclosure for this sale can be found here. Insiders have sold 77,421 shares of company stock valued at $3,389,397 in the last quarter. 0.61% of the stock is owned by company insiders.

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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