Public Svc Enterprise Group (PEG) Position Has Increased by Fulton Bank; As Franklin Resources (BEN) Shares Declined, Shareholder Southeastern Asset Management Cut Its Stake by $18.88 Million

May 23, 2018 - By Migdalia James

Franklin Resources, Inc. (NYSE:BEN) Logo

Fulton Bank increased its stake in Public Svc Enterprise Group (PEG) by 33.56% based on its latest 2017Q4 regulatory filing with the SEC. Fulton Bank bought 8,071 shares as the company’s stock declined 3.43% with the market. The institutional investor held 32,122 shares of the power generation company at the end of 2017Q4, valued at $1.66 million, up from 24,051 at the end of the previous reported quarter. Fulton Bank who had been investing in Public Svc Enterprise Group for a number of months, seems to be bullish on the $25.62B market cap company. The stock increased 0.32% or $0.16 during the last trading session, reaching $50.7. About 86,249 shares traded. Public Service Enterprise Group Incorporated (NYSE:PEG) has risen 10.24% since May 23, 2017 and is uptrending. It has underperformed by 1.31% the S&P500.

Mason Hawkins decreased its stake in Franklin Resources Inc. (BEN) by 21.64% based on its latest 2017Q4 regulatory filing with the SEC. Southeastern Asset Management Inc sold 439,157 shares as the company’s stock declined 14.35% with the market. The hedge fund run by Mason Hawkins held 1.59M shares of the finance company at the end of 2017Q4, valued at $68.90M, down from 2.03M at the end of the previous reported quarter. Southeastern Asset Management Inc who had been investing in Franklin Resources Inc. for a number of months, seems to be less bullish one the $18.37B market cap company. The stock decreased 1.33% or $0.46 during the last trading session, reaching $34.01. About 86,555 shares traded. Franklin Resources, Inc. (NYSE:BEN) has declined 8.47% since May 23, 2017 and is downtrending. It has underperformed by 20.02% the S&P500.

Investors sentiment decreased to 1.03 in Q4 2017. Its down 0.03, from 1.06 in 2017Q3. It is negative, as 32 investors sold PEG shares while 227 reduced holdings. 73 funds opened positions while 195 raised stakes. 332.49 million shares or 1.41% more from 327.87 million shares in 2017Q3 were reported. Foundry Prns Lc stated it has 136,860 shares. Advisory Svcs Networks Ltd Liability Corp reported 0.11% in Public Service Enterprise Group Incorporated (NYSE:PEG). 2,164 are owned by Adirondack Tru Communications. Cipher Cap LP accumulated 0.03% or 6,240 shares. Livforsakringsbolaget Skandia Omsesidigt reported 126,270 shares. Highlander Capital Mngmt Ltd Liability invested in 318 shares or 0.01% of the stock. Ngam Advisors Ltd Partnership invested in 0.07% or 128,878 shares. Fenimore Asset Mgmt has invested 0.01% of its portfolio in Public Service Enterprise Group Incorporated (NYSE:PEG). Sterling Capital Management Limited Com has 171,020 shares for 0.08% of their portfolio. Atria Invests Lc accumulated 13,357 shares. Minnesota-based Jnba Advsrs has invested 0.01% in Public Service Enterprise Group Incorporated (NYSE:PEG). Vident Inv Advisory Limited holds 0.03% or 12,498 shares in its portfolio. Legacy Private Tru Co has 0.11% invested in Public Service Enterprise Group Incorporated (NYSE:PEG) for 17,908 shares. 9,405 are owned by Cutter & Brokerage. Fort Washington Invest Advisors Inc Oh accumulated 0% or 6,407 shares.

Fulton Bank, which manages about $1.42 billion US Long portfolio, decreased its stake in Harbor Fd (HAINX) by 18,581 shares to 57,734 shares, valued at $3.90 million in 2017Q4, according to the filing. It also reduced its holding in Southern Co (NYSE:SO) by 11,913 shares in the quarter, leaving it with 36,798 shares, and cut its stake in Schwab Cap Tr.

More recent Public Service Enterprise Group Incorporated (NYSE:PEG) news were published by: Seekingalpha.com which released: “Public Service Enterprise’s (PEG) CEO Ralph Izzo on Q1 2018 Results – Earnings Call Transcript” on April 30, 2018. Also Seekingalpha.com published the news titled: “Bloomberg: New Jersey governor set to sign nuclear bailout bill” on May 23, 2018. Prnewswire.com‘s news article titled: “PSE&G to Begin Next Phase of Gas System Replacements” with publication date: May 22, 2018 was also an interesting one.

Among 16 analysts covering Public Service Enterprise Group Incorporated (NYSE:PEG), 10 have Buy rating, 1 Sell and 5 Hold. Therefore 63% are positive. Public Service Enterprise Group Incorporated had 59 analyst reports since September 11, 2015 according to SRatingsIntel. The company was maintained on Thursday, February 25 by Argus Research. RBC Capital Markets maintained it with “Hold” rating and $4700 target in Sunday, July 23 report. Jefferies maintained Public Service Enterprise Group Incorporated (NYSE:PEG) rating on Friday, July 21. Jefferies has “Hold” rating and $46.5000 target. The rating was maintained by Mizuho with “Buy” on Monday, November 20. JP Morgan upgraded the stock to “Overweight” rating in Friday, December 16 report. As per Thursday, February 1, the company rating was maintained by RBC Capital Markets. The firm has “Hold” rating by RBC Capital Markets given on Sunday, October 8. The firm earned “Outperform” rating on Monday, October 5 by RBC Capital Markets. On Tuesday, February 23 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Morgan Stanley maintained Public Service Enterprise Group Incorporated (NYSE:PEG) on Friday, September 8 with “Equal-Weight” rating.

Since January 2, 2018, it had 0 insider buys, and 6 sales for $6.09 million activity. $825,981 worth of stock was sold by Linde Tamara Louise on Monday, April 16.

Analysts await Franklin Resources, Inc. (NYSE:BEN) to report earnings on July, 27. They expect $0.76 earnings per share, up 4.11% or $0.03 from last year’s $0.73 per share. BEN’s profit will be $410.55 million for 11.19 P/E if the $0.76 EPS becomes a reality. After $0.78 actual earnings per share reported by Franklin Resources, Inc. for the previous quarter, Wall Street now forecasts -2.56% negative EPS growth.

Among 16 analysts covering Franklin Resources Inc. (NYSE:BEN), 0 have Buy rating, 4 Sell and 12 Hold. Therefore 0 are positive. Franklin Resources Inc. had 96 analyst reports since July 31, 2015 according to SRatingsIntel. As per Wednesday, April 11, the company rating was maintained by Jefferies. Bank of America downgraded Franklin Resources, Inc. (NYSE:BEN) rating on Monday, April 9. Bank of America has “Hold” rating and $3700 target. The rating was maintained by Citigroup on Friday, July 29 with “Neutral”. The rating was maintained by UBS on Friday, October 27 with “Neutral”. The firm has “Hold” rating given on Friday, October 9 by Deutsche Bank. The stock has “Neutral” rating by Bank of America on Wednesday, November 9. The rating was maintained by Citigroup on Tuesday, September 20 with “Neutral”. As per Monday, July 24, the company rating was downgraded by Wells Fargo. The firm has “Neutral” rating by Citigroup given on Friday, October 27. The company was maintained on Thursday, April 7 by JP Morgan.

Franklin Resources, Inc. (NYSE:BEN) Institutional Positions Chart

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