Sumitomo Mitsui Trust Group Inc. Reduces Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.8% in the third quarter, Holdings Channel reports. The firm owned 1,128,433 shares of the utilities provider’s stock after selling 9,180 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Public Service Enterprise Group were worth $100,668,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter worth about $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the second quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new position in Public Service Enterprise Group in the third quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group in the third quarter worth about $48,000. Finally, Country Trust Bank acquired a new position in Public Service Enterprise Group in the second quarter worth about $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,783 shares of company stock worth $2,381,626. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Trading Up 0.4 %

Shares of Public Service Enterprise Group stock opened at $87.06 on Thursday. The business has a fifty day simple moving average of $87.08 and a 200-day simple moving average of $79.64. The firm has a market cap of $43.38 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 3.17 and a beta of 0.61. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. UBS Group lifted their target price 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. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.69.

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.