Chartwell Investment Partners LLC Sells 640 Shares of Public Service Enterprise Group Incorporated (PEG)

Chartwell Investment Partners LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the first quarter, Holdings Channel reports. The institutional investor owned 19,685 shares of the utilities provider’s stock after selling 640 shares during the period. Chartwell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $873,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Welch & Forbes LLC boosted its position in shares of Public Service Enterprise Group by 0.3% in the first quarter. Welch & Forbes LLC now owns 5,451 shares of the utilities provider’s stock worth $242,000 after buying an additional 15 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in shares of Public Service Enterprise Group by 0.5% in the first quarter. Cutter & CO Brokerage Inc. now owns 8,304 shares of the utilities provider’s stock worth $368,000 after buying an additional 38 shares in the last quarter. Trustmark National Bank Trust Department boosted its position in shares of Public Service Enterprise Group by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,176 shares of the utilities provider’s stock worth $274,000 after buying an additional 57 shares in the last quarter. Alpha Cubed Investments LLC boosted its position in shares of Public Service Enterprise Group by 1.0% in the first quarter. Alpha Cubed Investments LLC now owns 5,955 shares of the utilities provider’s stock worth $264,000 after buying an additional 58 shares in the last quarter. Finally, First Manhattan Co. boosted its position in shares of Public Service Enterprise Group by 0.8% in the first quarter. First Manhattan Co. now owns 8,271 shares of the utilities provider’s stock worth $346,000 after buying an additional 65 shares in the last quarter. Institutional investors own 66.51% of the company’s stock.

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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 43.57 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $39.28 and a 52 week high of $46.81. The firm’s 50-day moving average price is $44.05 and its 200 day moving average price is $44.06. The firm has a market cap of $22.04 billion, a PE ratio of 41.89 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Friday, April 28th. The utilities provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Public Service Enterprise Group had a net margin of 5.86% and a return on equity of 11.17%. During the same quarter last year, the company earned $0.91 earnings per share. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post $2.90 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Wednesday, June 7th. Public Service Enterprise Group’s dividend payout ratio is 165.39%.

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A number of brokerages have commented on PEG. Barclays PLC boosted their price objective on Public Service Enterprise Group from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 25th. Mizuho assumed coverage on Public Service Enterprise Group in a research note on Wednesday, April 19th. They issued a “neutral” rating and a $44.50 price target on the stock. Deutsche Bank AG cut their price target on Public Service Enterprise Group from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, April 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Public Service Enterprise Group in a research note on Wednesday, May 10th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $46.50 price target (up previously from $43.50) on shares of Public Service Enterprise Group in a research note on Monday, February 27th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.90.

In other news, insider Derek M. Dirisio sold 2,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $43.86, for a total value of $87,720.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 30,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $44.14, for a total transaction of $1,324,200.00. Following the completion of the transaction, the chairman now owns 741,932 shares of the company’s stock, valued at approximately $32,748,878.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,021 shares of company stock valued at $3,772,635. Corporate insiders own 0.61% of the company’s stock.

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.

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 Incorporated (NYSE:PEG).

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