KCM Investment Advisors LLC Sells 2,090 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

KCM Investment Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,237 shares of the utilities provider’s stock after selling 2,090 shares during the quarter. KCM Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $5,820,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PEG. Raymond James & Associates boosted its position in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after acquiring an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $71,298,000. Hsbc Holdings PLC boosted its position in shares of Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Public Service Enterprise Group by 381.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after acquiring an additional 634,587 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $28,132,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.7 %

Shares of PEG traded up $0.59 during mid-day trading on Friday, hitting $87.59. 272,002 shares of the company’s stock traded hands, compared to its average volume of 2,769,778. 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 Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The firm has a market capitalization of $43.64 billion, a P/E ratio of 21.55, a PEG ratio of 3.20 and a beta of 0.61. The business’s 50-day moving average price is $87.32 and its 200-day moving average price is $79.74.

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

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,783 shares of company stock valued at $2,381,626. Company insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PEG shares. Scotiabank boosted 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. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. UBS Group boosted their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price for the company. Finally, BMO Capital Markets boosted their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.