Summit Global Investments lessened its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 96.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,194 shares of the utilities provider’s stock after selling 175,171 shares during the period. Summit Global Investments’ holdings in Public Service Enterprise Group were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Public Service Enterprise Group by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 934,536 shares of the utilities provider’s stock valued at $50,597,000 after acquiring an additional 8,614 shares during the last quarter. Brown Advisory Inc. grew its holdings in Public Service Enterprise Group by 945.6% in the second quarter. Brown Advisory Inc. now owns 79,835 shares of the utilities provider’s stock worth $4,322,000 after purchasing an additional 72,200 shares during the last quarter. Legal & General Group Plc grew its holdings in Public Service Enterprise Group by 1.7% in the second quarter. Legal & General Group Plc now owns 3,278,681 shares of the utilities provider’s stock worth $177,509,000 after purchasing an additional 53,372 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Public Service Enterprise Group by 40.3% in the second quarter. Janus Henderson Group PLC now owns 902,926 shares of the utilities provider’s stock worth $48,885,000 after purchasing an additional 259,500 shares during the last quarter. Finally, Sawtooth Solutions LLC grew its holdings in Public Service Enterprise Group by 71.3% in the second quarter. Sawtooth Solutions LLC now owns 11,417 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 4,754 shares during the last quarter. Institutional investors and hedge funds own 68.45% of the company’s stock.

Several research firms have recently commented on PEG. Goldman Sachs Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $53.00 in a research note on Thursday, July 19th. ValuEngine upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Citigroup lifted their price objective on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Monday, July 9th. Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $57.00 to $59.00 and gave the stock an “overweight” rating in a research note on Friday, May 25th. Finally, Deutsche Bank downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Public Service Enterprise Group currently has an average rating of “Buy” and a consensus target price of $52.83.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 20,833 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $53.85, for a total value of $1,121,857.05. Following the transaction, the chairman now directly owns 574,131 shares in the company, valued at approximately $30,916,954.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 91,495 shares of company stock worth $4,797,012 over the last quarter. 0.58% of the stock is currently owned by company insiders.

NYSE PEG traded down $0.44 during trading hours on Friday, hitting $53.27. 2,572,447 shares of the company’s stock traded hands, compared to its average volume of 2,388,905. Public Service Enterprise Group Inc. has a 52-week low of $45.05 and a 52-week high of $54.50. The stock has a market cap of $26.94 billion, a PE ratio of 18.18, a P/E/G ratio of 2.89 and a beta of 0.32. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Wednesday, August 1st. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Public Service Enterprise Group had a net margin of 23.69% and a return on equity of 11.03%. During the same quarter in the prior year, the company earned $0.62 EPS. sell-side analysts forecast that Public Service Enterprise Group Inc. will post 3.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.80 annualized dividend and a yield of 3.38%. Public Service Enterprise Group’s payout ratio is 61.43%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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