M&T Bank Corp Sells 3,267 Shares of Public Service Enterprise Group Inc. (PEG)

M&T Bank Corp lowered its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,400 shares of the utilities provider’s stock after selling 3,267 shares during the period. M&T Bank Corp’s holdings in Public Service Enterprise Group were worth $2,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. Dimensional Fund Advisors LP boosted its position in Public Service Enterprise Group by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 911,146 shares of the utilities provider’s stock valued at $39,188,000 after buying an additional 14,037 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Public Service Enterprise Group by 529.9% in the second quarter. Janus Henderson Group PLC now owns 417,887 shares of the utilities provider’s stock valued at $17,974,000 after acquiring an additional 351,547 shares during the period. Gotham Asset Management LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $535,000. WINTON GROUP Ltd lifted its holdings in Public Service Enterprise Group by 31.8% in the second quarter. WINTON GROUP Ltd now owns 28,839 shares of the utilities provider’s stock valued at $1,240,000 after acquiring an additional 6,957 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in Public Service Enterprise Group by 11.7% in the second quarter. Advisory Services Network LLC now owns 5,149 shares of the utilities provider’s stock valued at $221,000 after acquiring an additional 541 shares during the period. Hedge funds and other institutional investors own 66.40% of the company’s stock.

Public Service Enterprise Group Inc. (NYSE:PEG) opened at $48.61 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80. The firm has a market capitalization of $24,310.10, a P/E ratio of 47.19, a PEG ratio of 4.08 and a beta of 0.39. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28.

In other news, CEO Ralph Izzo sold 20,833 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $51.00, for a total transaction of $1,062,483.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 62,499 shares of company stock valued at $3,232,240. Corporate insiders own 0.61% of the company’s stock.

A number of research analysts have issued reports on the company. 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 report on Tuesday. Morgan Stanley decreased their price target on Public Service Enterprise Group from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a report on Monday, February 5th. They noted that the move was a valuation call. UBS Group assumed coverage on Public Service Enterprise Group in a report on Friday, February 2nd. They issued a “neutral” rating and a $52.00 price target for the company. Finally, ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $51.04.

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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.

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

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