Affinity Wealth Management Continues to Hold Holdings in Public Service Enterprise Group Incorporated (PEG)

Affinity Wealth Management held its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,506 shares of the utilities provider’s stock at the close of the second quarter. Public Service Enterprise Group makes up 0.3% of Affinity Wealth Management’s portfolio, making the stock its 28th largest holding. Affinity Wealth Management’s holdings in Public Service Enterprise Group were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Parallel Advisors LLC lifted its position in 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 worth $114,000 after purchasing an additional 20 shares during the period. Premier Asset Management LLC lifted its position in Public Service Enterprise Group by 0.6% in the second quarter. Premier Asset Management LLC now owns 5,356 shares of the utilities provider’s stock worth $230,000 after purchasing an additional 31 shares during the period. Cutter & CO Brokerage Inc. lifted its position in Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after purchasing an additional 38 shares during the period. Advisor Partners LLC lifted its position in Public Service Enterprise Group by 0.5% in the second quarter. Advisor Partners LLC now owns 10,106 shares of the utilities provider’s stock worth $435,000 after purchasing an additional 48 shares during the period. Finally, FCG Advisors LLC lifted its position in Public Service Enterprise Group by 0.4% in the second quarter. FCG Advisors LLC now owns 12,005 shares of the utilities provider’s stock worth $516,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 65.97% of the company’s stock.

In related news, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction 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 SEC, which can be accessed through this hyperlink. Also, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was 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 in the company, valued at $33,853,479.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,900 shares of company stock worth $2,413,947. 0.61% of the stock is currently owned by company insiders.

PEG has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Public Service Enterprise Group in a research report on Tuesday, June 27th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Tuesday, July 4th. BidaskClub cut Public Service Enterprise Group from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Wolfe Research raised Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. Finally, Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $44.50 to $50.00 in a report on Friday, August 11th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $48.46.

Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 0.35% during trading on Thursday, hitting $45.64. 497,912 shares of the stock were exchanged. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $47.47. The stock has a 50 day moving average price of $46.05 and a 200-day moving average price of $44.64. The firm has a market capitalization of $23.09 billion, a PE ratio of 51.28 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 EPS for the quarter, topping 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 business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the business posted $0.57 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post $2.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.78%. Public Service Enterprise Group’s payout ratio is 193.26%.

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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.

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

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