First Midwest Bank Trust Division Has $440,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

First Midwest Bank Trust Division lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,233 shares of the utilities provider’s stock after selling 3,607 shares during the period. First Midwest Bank Trust Division’s holdings in Public Service Enterprise Group were worth $440,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. OLD Second National Bank of Aurora acquired a new stake in shares of Public Service Enterprise Group during the second quarter valued at $1,956,000. Huntington National Bank increased its stake in shares of Public Service Enterprise Group by 104.7% in the second quarter. Huntington National Bank now owns 5,583 shares of the utilities provider’s stock valued at $240,000 after buying an additional 2,855 shares in the last quarter. Financial Architects Inc increased its stake in shares of Public Service Enterprise Group by 2.6% in the second quarter. Financial Architects Inc now owns 13,591 shares of the utilities provider’s stock valued at $585,000 after buying an additional 346 shares in the last quarter. Rothschild Investment Corp IL acquired a new stake in shares of Public Service Enterprise Group during the second quarter valued at $2,394,000. Finally, BB&T Corp increased its stake in shares of Public Service Enterprise Group by 95.9% in the second quarter. BB&T Corp now owns 26,807 shares of the utilities provider’s stock valued at $1,153,000 after buying an additional 13,121 shares in the last quarter. Institutional investors and hedge funds own 66.32% of the company’s stock.

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) opened at 46.68 on Friday. The company’s 50-day moving average price is $44.33 and its 200 day moving average price is $44.29. Public Service Enterprise Group Incorporated has a 1-year low of $39.28 and a 1-year high of $46.95. The firm has a market cap of $23.61 billion, a PE ratio of 52.45 and a beta of 0.38.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Friday, July 28th. The utilities provider reported $0.62 earnings per share 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business earned $0.57 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post $2.92 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.43 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.68%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 193.26%.

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Several analysts recently weighed in on the company. BidaskClub upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Friday. Mizuho raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.50 to $50.00 in a report on Friday, August 11th. Morgan Stanley upped their target price on Public Service Enterprise Group from $50.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $49.00 target price (up previously from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Finally, Zacks Investment Research cut Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $48.21.

In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 23,400 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 748,474 shares in the company, valued at approximately $33,853,479.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

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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