Thrivent Financial for Lutherans Has $106.03 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Thrivent Financial for Lutherans lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,188,556 shares of the utilities provider’s stock after purchasing an additional 6,958 shares during the quarter. Thrivent Financial for Lutherans owned 0.24% of Public Service Enterprise Group worth $106,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Atlanta Consulting Group Advisors LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $257,000. Mutual of America Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 5.2% in the third quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider’s stock valued at $11,206,000 after purchasing an additional 6,193 shares in the last quarter. Maxwell Wealth Strategies Inc. acquired a new stake in shares of Public Service Enterprise Group in the third quarter worth $723,000. Empowered Funds LLC grew its holdings in shares of Public Service Enterprise Group by 7.7% during the third quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock valued at $746,000 after buying an additional 597 shares in the last quarter. Finally, Empirical Finance LLC raised its position in Public Service Enterprise Group by 2.3% during the third quarter. Empirical Finance LLC now owns 17,282 shares of the utilities provider’s stock valued at $1,542,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEG. Morgan Stanley lifted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value 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 $12,014,095.48. This trade represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,783 shares of company stock valued at $2,381,626. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

NYSE:PEG opened at $88.99 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company’s 50 day moving average is $87.50 and its 200-day moving average is $80.03. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $44.34 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 3.27 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm 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 company’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

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.