Meeder Advisory Services Inc. Reduces Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Meeder Advisory Services Inc. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,944 shares of the utilities provider’s stock after selling 752 shares during the period. Meeder Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $1,065,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kingsview Wealth Management LLC increased its stake in shares of Public Service Enterprise Group by 11.9% during the first quarter. Kingsview Wealth Management LLC now owns 5,814 shares of the utilities provider’s stock valued at $388,000 after buying an additional 619 shares during the period. Blair William & Co. IL increased its position in Public Service Enterprise Group by 5.8% during the 1st quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider’s stock valued at $899,000 after purchasing an additional 735 shares during the period. Intech Investment Management LLC raised its holdings in Public Service Enterprise Group by 34.4% in the 1st quarter. Intech Investment Management LLC now owns 17,053 shares of the utilities provider’s stock worth $1,139,000 after purchasing an additional 4,362 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $333,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Public Service Enterprise Group by 23.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 27,277 shares of the utilities provider’s stock valued at $1,822,000 after purchasing an additional 5,246 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,783 shares of company stock worth $2,381,626. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PEG. Bank of America raised their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank lifted their price target on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI increased their price target on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Finally, LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $89.43 on Tuesday. The firm has a market cap of $44.56 billion, a PE ratio of 21.97, a P/E/G ratio of 3.27 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. 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 fifty day simple moving average of $87.68 and a two-hundred day simple moving average of $80.17.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS 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.