Public Service Enterprise Group Incorporated (PEG) Stake Boosted by Commonwealth Bank of Australia

Commonwealth Bank of Australia grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,248 shares of the utilities provider’s stock after acquiring an additional 6,015 shares during the quarter. Commonwealth Bank of Australia’s holdings in Public Service Enterprise Group were worth $3,277,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PEG. Russell Investments Group Ltd. increased its holdings in shares of Public Service Enterprise Group by 19.0% during the first quarter. Russell Investments Group Ltd. now owns 294,861 shares of the utilities provider’s stock valued at $13,085,000 after acquiring an additional 47,132 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Public Service Enterprise Group by 55.8% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 10,740 shares of the utilities provider’s stock valued at $476,000 after acquiring an additional 3,845 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Public Service Enterprise Group by 9.1% during the first quarter. Daiwa Securities Group Inc. now owns 14,450 shares of the utilities provider’s stock valued at $641,000 after acquiring an additional 1,200 shares in the last quarter. Community Bank N.A. increased its holdings in shares of Public Service Enterprise Group by 1.6% during the first quarter. Community Bank N.A. now owns 96,186 shares of the utilities provider’s stock valued at $4,265,000 after acquiring an additional 1,470 shares in the last quarter. Finally, Henderson Group PLC increased its holdings in shares of Public Service Enterprise Group by 1.4% during the first quarter. Henderson Group PLC now owns 66,340 shares of the utilities provider’s stock valued at $2,942,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 65.97% of the company’s stock.

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In other news, Chairman Ralph Izzo sold 30,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 748,121 shares of the company’s stock, valued at $32,042,022.43. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $47.11, for a total value of $70,665.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,900 shares of company stock worth $2,413,947. 0.61% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.45 on Monday. The firm has a market cap of $23.50 billion, a P/E ratio of 52.19 and a beta of 0.39. The company has a 50-day moving average of $45.94 and a 200 day moving average of $44.61. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $47.47.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates 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 company posted $0.57 earnings per share. Equities research analysts expect that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

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

Several equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, July 4th. Morgan Stanley upped their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Wolfe Research upgraded shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a report on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Public Service Enterprise Group has an average rating of “Buy” and a consensus price target of $48.38.

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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