BOS Asset Management LLC Makes New Investment in Public Service Enterprise Group Incorporated (NYSE:PEG)

BOS Asset Management LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,598 shares of the utilities provider’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $36,000. Salomon & Ludwin LLC lifted its position in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares during the period. Finally, Scarborough Advisors LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at $13,305,762.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,010 shares of company stock valued at $3,397,855. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $90.21 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The company has a market cap of $44.93 billion, a P/E ratio of 24.99, a P/E/G ratio of 2.72 and a beta of 0.61. The firm has a 50-day moving average of $84.32 and a 200-day moving average of $76.70. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last posted 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.70 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of 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. 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. Bank of America increased 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 upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.92.

Public Service Enterprise Group Company 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.