Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui Trust Group Inc. lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,128,433 shares of the utilities provider’s stock after selling 9,180 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Public Service Enterprise Group worth $100,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Heritage Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $422,000. QRG Capital Management Inc. grew its holdings in shares of Public Service Enterprise Group by 28.0% in the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after acquiring an additional 15,505 shares during the period. CWM LLC grew its holdings in shares of Public Service Enterprise Group by 72.3% in the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares during the period. Czech National Bank grew its holdings in shares of Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after acquiring an additional 7,235 shares during the period. Finally, Diversified Trust Co acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $585,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,783 shares of company stock valued at $2,381,626 over the last three months. 0.57% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PEG shares. UBS Group upped their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Trading Up 0.4 %

Shares of PEG opened at $87.06 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $43.38 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 3.17 and a beta of 0.61. The stock’s fifty day simple moving average is $87.08 and its 200 day simple moving average is $79.64. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.