Hartford Investment Management Co. Boosts Position in Public Service Enterprise Group Incorporated (PEG)

Hartford Investment Management Co. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,245 shares of the company’s stock after buying an additional 10,861 shares during the period. Hartford Investment Management Co.’s holdings in Public Service Enterprise Group were worth $6,835,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PEG. Huntington National Bank raised its stake in Public Service Enterprise Group by 7.8% in the third quarter. Huntington National Bank now owns 2,734 shares of the company’s stock valued at $115,000 after buying an additional 197 shares during the period. Paradigm Asset Management Co. LLC raised its stake in Public Service Enterprise Group by 10.9% in the second quarter. Paradigm Asset Management Co. LLC now owns 2,850 shares of the company’s stock valued at $133,000 after buying an additional 279 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Public Service Enterprise Group during the third quarter worth $157,000. Compagnie Lombard Odier SCmA raised its stake in Public Service Enterprise Group by 38.2% in the second quarter. Compagnie Lombard Odier SCmA now owns 4,054 shares of the company’s stock worth $189,000 after buying an additional 1,121 shares during the period. Finally, Evercore Wealth Management LLC raised its stake in Public Service Enterprise Group by 20.6% in the second quarter. Evercore Wealth Management LLC now owns 4,201 shares of the company’s stock worth $196,000 after buying an additional 718 shares during the period. 64.34% of the stock is currently owned by institutional investors.

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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) traded up 1.68% during midday trading on Wednesday, hitting $44.19. 936,220 shares of the stock were exchanged. Public Service Enterprise Group Incorporated has a 1-year low of $38.14 and a 1-year high of $47.41. The firm has a 50-day moving average of $42.85 and a 200-day moving average of $42.99. The company has a market capitalization of $22.36 billion, a P/E ratio of 17.40 and a beta of 0.27.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, October 31st. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.05. Public Service Enterprise Group had a net margin of 13.99% and a return on equity of 10.91%. During the same quarter in the prior year, the company earned $0.80 EPS. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post $2.88 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 9th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Wednesday, December 7th. Public Service Enterprise Group’s dividend payout ratio is currently 64.57%.

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PEG has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. Deutsche Bank AG raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Tuesday, December 20th. J P Morgan Chase & Co raised shares of Public Service Enterprise Group from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $47.00 in a report on Friday, December 16th. RBC Capital Markets reaffirmed a “hold” rating and set a $48.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 4th. Finally, Argus decreased their target price on shares of Public Service Enterprise Group from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.59.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 25,895 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $41.74, for a total transaction of $1,080,857.30. Following the transaction, the chairman now owns 738,182 shares of the company’s stock, valued at $30,811,716.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company with operations located in the Northeastern and Mid- Atlantic United States. The Company is engaged in the transmission and distribution of electricity and natural gas. The Company’s business consists of two segments, including Public Service Electric and Gas Company (PSE&G) and PSEG Power LLC (Power).

5 Day Chart for NYSE:PEG

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