State Board of Administration of Florida Retirement System Sells 5,475 Shares of Public Service Enterprise Group Inc. (PEG)

State Board of Administration of Florida Retirement System trimmed its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 720,795 shares of the utilities provider’s stock after selling 5,475 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of Public Service Enterprise Group worth $38,051,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. CIBC World Markets Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $811,000. Macquarie Group Ltd. increased its holdings in shares of Public Service Enterprise Group by 6.2% during the second quarter. Macquarie Group Ltd. now owns 528,955 shares of the utilities provider’s stock valued at $28,638,000 after purchasing an additional 30,848 shares during the period. Toronto Dominion Bank increased its holdings in shares of Public Service Enterprise Group by 19.3% during the second quarter. Toronto Dominion Bank now owns 324,730 shares of the utilities provider’s stock valued at $17,577,000 after purchasing an additional 52,549 shares during the period. Glen Harbor Capital Management LLC increased its holdings in shares of Public Service Enterprise Group by 6.0% during the second quarter. Glen Harbor Capital Management LLC now owns 17,752 shares of the utilities provider’s stock valued at $961,000 after purchasing an additional 1,008 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Public Service Enterprise Group by 10.0% during the second quarter. Millennium Management LLC now owns 2,143,225 shares of the utilities provider’s stock valued at $116,034,000 after purchasing an additional 195,140 shares during the period. Institutional investors own 69.00% of the company’s stock.

NYSE:PEG opened at $53.21 on Tuesday. The stock has a market cap of $26.78 billion, a P/E ratio of 18.16, a PEG ratio of 2.54 and a beta of 0.28. Public Service Enterprise Group Inc. has a 52-week low of $46.19 and a 52-week high of $56.68. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same period in the previous year, the company earned $0.82 earnings per share. Sell-side analysts anticipate that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current fiscal year.

In related news, Chairman Ralph Izzo sold 52,406 shares of the stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $52.95, for a total value of $2,774,897.70. Following the completion of the transaction, the chairman now owns 538,647 shares in the company, valued at approximately $28,521,358.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek M. Dirisio sold 2,300 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. Insiders sold a total of 156,942 shares of company stock valued at $8,272,885 in the last quarter. 0.58% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on PEG shares. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a report on Wednesday, October 10th. Argus lifted 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 on the stock in a report on Monday, September 17th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $56.46.

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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.

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

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