Intact Investment Management Inc. Buys 7,600 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Intact Investment Management Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,500 shares of the utilities provider’s stock after acquiring an additional 7,600 shares during the quarter. Intact Investment Management Inc.’s holdings in Public Service Enterprise Group were worth $7,181,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEG. Norden Group LLC bought a new position in Public Service Enterprise Group during the first quarter valued at $510,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Public Service Enterprise Group by 8.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,024 shares of the utilities provider’s stock worth $5,544,000 after acquiring an additional 6,539 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Public Service Enterprise Group by 3.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,037 shares of the utilities provider’s stock worth $4,343,000 after acquiring an additional 2,303 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Public Service Enterprise Group by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,605 shares of the utilities provider’s stock valued at $775,000 after acquiring an additional 1,355 shares during the period. Finally, Choreo LLC lifted its holdings in Public Service Enterprise Group by 2.3% during the first quarter. Choreo LLC now owns 14,998 shares of the utilities provider’s stock valued at $1,002,000 after purchasing an additional 332 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

PEG has been the subject of several recent research reports. Scotiabank lifted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Four research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.46.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $84.00 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 has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The company has a market cap of $41.85 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.61. The stock has a 50-day moving average price of $86.48 and a 200-day moving average price of $78.75.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction 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 transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. 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 is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 over the last three months. 0.57% of the stock is owned by 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.