Public Service Enterprise Group Incorporated (PEG) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 27.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 772,665 shares of the utilities provider’s stock after selling 286,935 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Public Service Enterprise Group worth $35,736,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Public Service Enterprise Group by 1.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 191,449 shares of the utilities provider’s stock worth $8,855,000 after purchasing an additional 3,340 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Public Service Enterprise Group by 7.1% in the third quarter. Daiwa Securities Group Inc. now owns 15,476 shares of the utilities provider’s stock worth $716,000 after purchasing an additional 1,026 shares in the last quarter. State of Wisconsin Investment Board grew its stake in shares of Public Service Enterprise Group by 4.1% in the third quarter. State of Wisconsin Investment Board now owns 700,789 shares of the utilities provider’s stock worth $32,411,000 after purchasing an additional 27,345 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of Public Service Enterprise Group by 1.6% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 83,417 shares of the utilities provider’s stock worth $3,858,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Public Service Enterprise Group by 4.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 76,179 shares of the utilities provider’s stock worth $3,523,000 after purchasing an additional 2,977 shares in the last quarter. 65.03% of the stock is owned by institutional investors.

Public Service Enterprise Group Incorporated (PEG) opened at $51.38 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56. Public Service Enterprise Group Incorporated has a 1 year low of $40.11 and a 1 year high of $52.12. The firm has a market capitalization of $25,964.85, a price-to-earnings ratio of 17.69, a P/E/G ratio of 6.41 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business earned $0.88 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. research analysts expect that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Public Service Enterprise Group Incorporated (PEG) Stake Lessened by Principal Financial Group Inc.” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/11/17/public-service-enterprise-group-incorporated-peg-stake-lessened-by-principal-financial-group-inc.html.

In related news, COO Ralph A. Larossa sold 33,000 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total value of $1,653,960.00. Following the completion of the transaction, the chief operating officer now owns 81,241 shares in the company, valued at approximately $4,071,798.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ralph Izzo sold 79,920 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $48.83, for a total value of $3,902,493.60. The disclosure for this sale can be found here. Insiders sold a total of 242,433 shares of company stock valued at $11,901,112 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Several research analysts have recently issued reports on PEG shares. BidaskClub raised Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, October 10th. Argus increased their price target on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Wells Fargo & Company raised Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Finally, Bank of America Corporation assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price target for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and a consensus price target of $50.42.

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.

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).

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

Receive News & Ratings for Public Service Enterprise Group Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply