Public Service Enterprise Group Inc. (PEG) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 56.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,033 shares of the utilities provider’s stock after selling 20,789 shares during the quarter. Advisors Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $868,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEG. American Research & Management Co. bought a new position in Public Service Enterprise Group in the second quarter worth approximately $108,000. NuWave Investment Management LLC bought a new position in Public Service Enterprise Group in the second quarter worth approximately $118,000. Squar Milner Financial Services LLC bought a new position in Public Service Enterprise Group in the second quarter worth approximately $149,000. Cordasco Financial Network lifted its holdings in Public Service Enterprise Group by 63.1% during the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock worth $154,000 after buying an additional 1,100 shares during the period. Finally, Centaurus Financial Inc. purchased a new stake in Public Service Enterprise Group during the second quarter worth $161,000. 68.48% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. UBS Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a report on Wednesday, October 10th. Argus upped their target price on Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 17th. Morgan Stanley set a $59.00 target price on Public Service Enterprise Group and gave the stock a “buy” rating in a report on Thursday, October 11th. Finally, Wells Fargo & Co lowered their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, September 17th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $56.46.

Shares of PEG opened at $52.98 on Friday. Public Service Enterprise Group Inc. has a 12 month low of $46.19 and a 12 month high of $56.68. The company has a quick ratio of 0.52, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. The firm has a market cap of $26.78 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the business posted $0.82 EPS. Analysts forecast that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current year.

In related news, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the transaction, the chairman now owns 558,073 shares in the company, valued at approximately $29,337,897.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

Read More: How to calculate the intrinsic value of a stock

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 Inc. (NYSE:PEG).

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

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


Leave a Reply