Public Service Enterprise Group Inc. (NYSE:PEG) Shares Purchased by Profund Advisors LLC

Share on StockTwits

Profund Advisors LLC boosted its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 11.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,438 shares of the utilities provider’s stock after purchasing an additional 4,375 shares during the period. Profund Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,555,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 6,527,327 shares of the utilities provider’s stock valued at $339,147,000 after acquiring an additional 489,501 shares during the last quarter. Nordea Investment Management AB raised its stake in Public Service Enterprise Group by 42.7% during the 1st quarter. Nordea Investment Management AB now owns 6,496,557 shares of the utilities provider’s stock valued at $385,966,000 after purchasing an additional 1,942,914 shares during the period. Northern Trust Corp raised its stake in Public Service Enterprise Group by 2.2% during the 2nd quarter. Northern Trust Corp now owns 6,303,262 shares of the utilities provider’s stock valued at $370,758,000 after purchasing an additional 136,854 shares during the period. AQR Capital Management LLC raised its stake in Public Service Enterprise Group by 16.0% during the 1st quarter. AQR Capital Management LLC now owns 5,443,816 shares of the utilities provider’s stock valued at $321,130,000 after purchasing an additional 752,831 shares during the period. Finally, FMR LLC raised its stake in Public Service Enterprise Group by 1.0% during the 1st quarter. FMR LLC now owns 5,215,929 shares of the utilities provider’s stock valued at $309,879,000 after purchasing an additional 52,334 shares during the period. Institutional investors own 69.38% of the company’s stock.

In related news, COO Ralph A. Larossa sold 1,650 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.82, for a total value of $100,353.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Daniel J. Cregg sold 625 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $60.92, for a total transaction of $38,075.00. Following the completion of the transaction, the vice president now directly owns 60,833 shares of the company’s stock, valued at approximately $3,705,946.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,815 shares of company stock valued at $6,583,065. 0.51% of the stock is owned by corporate insiders.

PEG stock traded down $0.78 during mid-day trading on Friday, reaching $60.67. 102,970 shares of the stock traded hands, compared to its average volume of 1,873,281. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average of $58.87 and a two-hundred day moving average of $59.38. Public Service Enterprise Group Inc. has a 52 week low of $49.22 and a 52 week high of $62.22. The firm has a market capitalization of $30.92 billion, a PE ratio of 19.44, a P/E/G ratio of 8.35 and a beta of 0.29.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business posted $0.64 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Inc. will post 3.23 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Friday, September 6th. Public Service Enterprise Group’s payout ratio is presently 60.26%.

A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Public Service Enterprise Group from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. ValuEngine downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Bank of America downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $65.00 target price on the stock. in a research report on Friday, July 19th. KeyCorp assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, June 4th. They set a “sector weight” rating and a $59.40 target price on the stock. Finally, Barclays assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, August 13th. They set an “overweight” rating and a $63.00 price target for the company. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $62.61.

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; 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.

Read More: Most Active Stocks

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.