Schroder Investment Management Group Reduces Holdings in Public Service Enterprise Group Incorporated (PEG)

Schroder Investment Management Group cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,906 shares of the utilities provider’s stock after selling 14,572 shares during the quarter. Schroder Investment Management Group’s holdings in Public Service Enterprise Group were worth $1,746,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KBC Group NV increased its stake in shares of Public Service Enterprise Group by 1.2% in the second quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after buying an additional 617 shares during the period. Advisory Services Network LLC increased its stake in shares of Public Service Enterprise Group by 11.7% in the second quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock valued at $221,000 after buying an additional 541 shares during the period. Rench Wealth Management Inc. grew its stake in Public Service Enterprise Group by 1.1% during the second quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock worth $1,856,000 after purchasing an additional 470 shares during the period. People s United Financial Inc. grew its stake in Public Service Enterprise Group by 174.1% during the second quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 5,119 shares during the period. Finally, Oppenheimer & Co. Inc. grew its stake in Public Service Enterprise Group by 4.1% during the second quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock worth $5,778,000 after purchasing an additional 5,263 shares during the period. 66.77% of the stock is owned by institutional investors.

In other news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the transaction, the chairman now owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Insiders sold 263,951 shares of company stock valued at $13,045,041 in the last three months. Insiders own 0.61% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (PEG) traded up $0.17 during trading on Thursday, reaching $52.18. The company’s stock had a trading volume of 3,326,000 shares, compared to its average volume of 2,838,251. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Incorporated has a 12-month low of $41.67 and a 12-month high of $53.28. The firm has a market capitalization of $26,319.58, a PE ratio of 17.93, a PEG ratio of 6.50 and a beta of 0.41.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business posted $0.88 EPS. The company’s revenue was down 7.6% on a year-over-year basis. analysts expect that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a yield of 3.30%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 166.99%.

Several equities research analysts recently commented on PEG shares. BidaskClub raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Morgan Stanley raised their target price 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. J P Morgan Chase & Co raised their target price on Public Service Enterprise Group from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Thursday, September 14th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $47.00 target price on shares of Public Service Enterprise Group in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $50.81.

ILLEGAL ACTIVITY NOTICE: “Schroder Investment Management Group Reduces Holdings in Public Service Enterprise Group Incorporated (PEG)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2017/12/14/schroder-investment-management-group-reduces-holdings-in-public-service-enterprise-group-incorporated-peg.html.

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)

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.

Leave a Reply