California State Teachers Retirement System Has $40.14 Million Stake in Public Service Enterprise Group Incorporated (PEG)

California State Teachers Retirement System lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 933,320 shares of the utilities provider’s stock after selling 105,821 shares during the period. California State Teachers Retirement System owned about 0.18% of Public Service Enterprise Group worth $40,142,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Kempen Capital Management N.V. increased its position in Public Service Enterprise Group by 6.5% during the first quarter. Kempen Capital Management N.V. now owns 521,676 shares of the utilities provider’s stock worth $23,136,000 after purchasing an additional 32,050 shares during the last quarter. Schafer Cullen Capital Management Inc. increased its position in Public Service Enterprise Group by 2.8% during the first quarter. Schafer Cullen Capital Management Inc. now owns 31,704 shares of the utilities provider’s stock worth $1,406,000 after purchasing an additional 876 shares during the last quarter. Burney Co. increased its position in Public Service Enterprise Group by 4.3% during the first quarter. Burney Co. now owns 146,983 shares of the utilities provider’s stock worth $6,519,000 after purchasing an additional 5,994 shares during the last quarter. LMR Partners LLP acquired a new position in Public Service Enterprise Group during the first quarter worth approximately $578,000. Finally, Credit Agricole S A increased its position in Public Service Enterprise Group by 21.6% during the first quarter. Credit Agricole S A now owns 148,604 shares of the utilities provider’s stock worth $6,591,000 after purchasing an additional 26,383 shares during the last quarter. 65.88% of the stock is owned by institutional investors and hedge funds.

In other news, insider Derek M. Dirisio sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total value of $70,665.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $46.50, for a total value of $968,734.50. The disclosure for this sale can be found here. Insiders have sold a total of 45,733 shares of company stock valued at $2,097,782 over the last three months. Company insiders own 0.61% of the company’s stock.

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Public Service Enterprise Group Incorporated (PEG) traded up 0.45% during trading on Friday, reaching $49.24. 663,311 shares of the company’s stock traded hands. The company has a market capitalization of $24.91 billion, a price-to-earnings ratio of 55.33 and a beta of 0.38. The firm’s 50 day moving average is $46.63 and its 200-day moving average is $44.91. Public Service Enterprise Group Incorporated has a 12 month low of $39.28 and a 12 month high of $49.33.

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 for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The firm 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 period in the previous year, the business posted $0.57 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.72 annualized dividend and a yield of 3.51%. Public Service Enterprise Group’s dividend payout ratio is currently 193.26%.

Several equities research analysts have recently issued reports on PEG shares. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, August 1st. Mizuho raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $44.50 to $50.00 in a research report on Friday, August 11th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $49.00 price objective (up previously from $44.00) on shares of Public Service Enterprise Group in a research report on Thursday, August 10th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.79.

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.

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

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