First Premier Bank Lowers stake in Public Service Enterprise Group (PEG)

Public Service Enterprise Group (PEG) : First Premier Bank reduced its stake in Public Service Enterprise Group by 1.46% during the most recent quarter end. The investment management company now holds a total of 80,796 shares of Public Service Enterprise Group which is valued at $3,727,927 after selling 1,198 shares in Public Service Enterprise Group , the firm said in a disclosure report filed with the SEC on Jul 6, 2016.Public Service Enterprise Group makes up approximately 2.82% of First Premier Bank’s portfolio.

Other Hedge Funds, Including ,

Public Service Enterprise Group closed down -0.19 points or -0.41% at $45.95 with 21,30,519 shares getting traded on Monday. Post opening the session at $45.94, the shares hit an intraday low of $45.41 and an intraday high of $45.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Public Service Enterprise Group reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.88.Analysts expectations of $ 2692.87.During the same quarter in the previous year, the company posted $1.04 EPS.

Many Wall Street Analysts have commented on Public Service Enterprise Group. Public Service Enterprise Group was Downgraded by BofA/Merrill to ” Underperform” on Jun 7, 2016.

Public Service Enterprise Group Incorporated (PSEG) is an energy holding company engaged in the transmission of electricity and distribution of electricity and natural gas. Its operations are located in the Northeastern and Mid- Atlantic United States. It conducts its business through two direct wholly owned subsidiaries: PSEG Power LLC (Power) and Public Service Electric and Gas Company (PSE&G). The Company’s other direct wholly owned subsidiaries are PSEG Energy Holdings L.L.C. which owns and manages a portfolio of lease investments; PSEG Long Island LLC which operates the Long Island Power Authority’s (LIPA) transmission and distribution system under a contractual agreement and PSEG Services Corporation which provides certain management administrative and general services to PSEG and its subsidiaries.

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