Moody Lynn & Lieberson LLC Increases Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Moody Lynn & Lieberson LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,682 shares of the utilities provider’s stock after acquiring an additional 3,239 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Public Service Enterprise Group were worth $864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Public Service Enterprise Group by 132.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 110,240 shares of the utilities provider’s stock valued at $9,835,000 after purchasing an additional 62,868 shares during the period. IFM Investors Pty Ltd lifted its stake in Public Service Enterprise Group by 6.5% in the third quarter. IFM Investors Pty Ltd now owns 190,362 shares of the utilities provider’s stock valued at $16,982,000 after buying an additional 11,536 shares during the last quarter. Ausbil Investment Management Ltd boosted its holdings in shares of Public Service Enterprise Group by 8.7% in the third quarter. Ausbil Investment Management Ltd now owns 235,681 shares of the utilities provider’s stock valued at $21,025,000 after acquiring an additional 18,878 shares during the period. Great Lakes Retirement Inc. grew its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Public Service Enterprise Group by 9,306.2% in the 3rd quarter. International Assets Investment Management LLC now owns 404,938 shares of the utilities provider’s stock valued at $36,125,000 after acquiring an additional 400,633 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. UBS Group lifted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada upped their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $90.49 on Friday. The company has a market cap of $45.08 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The business has a fifty day moving average of $85.31 and a two-hundred day moving average of $77.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the business earned $0.70 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock valued at $3,397,855 in the last quarter. 0.57% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Profile

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.