Delta Lloyd Asset Management N.V. Purchases Shares of 115,913 Public Service Enterprise Group Incorporated (NYSE:PEG)

Delta Lloyd Asset Management N.V. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 115,913 shares of the utilities provider’s stock, valued at approximately $4,985,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Swiss National Bank grew its stake in Public Service Enterprise Group by 3.2% in the second quarter. Swiss National Bank now owns 1,849,477 shares of the utilities provider’s stock valued at $79,546,000 after purchasing an additional 56,900 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in Public Service Enterprise Group by 66.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,854 shares of the utilities provider’s stock valued at $166,000 after purchasing an additional 1,540 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Public Service Enterprise Group in the second quarter valued at about $710,000. Motco grew its stake in Public Service Enterprise Group by 0.3% in the second quarter. Motco now owns 114,470 shares of the utilities provider’s stock valued at $4,924,000 after purchasing an additional 340 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Public Service Enterprise Group by 3.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 69,640 shares of the utilities provider’s stock valued at $2,995,000 after purchasing an additional 2,328 shares in the last quarter. Hedge funds and other institutional investors own 65.97% of the company’s stock.

A number of research analysts have commented on the company. BidaskClub upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley upped their price target on Public Service Enterprise Group from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Friday, September 8th. Mizuho upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $44.50 to $50.00 in a research note on Friday, August 11th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Thursday. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $49.00 price target (up previously from $44.00) on shares of Public Service Enterprise Group in a research note on Thursday, August 10th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.46.

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Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 45.82 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $47.47. The company has a market cap of $23.18 billion, a P/E ratio of 51.48 and a beta of 0.39. The company’s 50-day moving average price is $46.19 and its 200 day moving average price is $44.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results 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 return on equity of 11.46% and a net margin of 4.88%. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company posted $0.57 earnings per share. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current fiscal year.

The firm also recently declared 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. This represents a $1.72 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, September 7th. Public Service Enterprise Group’s payout ratio is currently 193.26%.

In related news, Chairman Ralph Izzo sold 23,400 shares of Public Service Enterprise Group stock in a transaction dated 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 completion of the transaction, the chairman now owns 748,474 shares in the company, valued at $33,853,479.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group 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 disclosure for this sale can be found here. Insiders have sold 54,900 shares of company stock valued at $2,413,947 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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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