Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Lowered by International Private Wealth Advisors LLC

International Private Wealth Advisors LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,322 shares of the utilities provider’s stock after selling 402 shares during the period. International Private Wealth Advisors LLC’s holdings in Public Service Enterprise Group were worth $475,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PEG. Heritage Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $422,000. QRG Capital Management Inc. raised its stake in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after purchasing an additional 15,505 shares in the last quarter. CWM LLC raised its stake in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Czech National Bank raised its stake in shares of Public Service Enterprise Group by 8.3% during the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock worth $6,995,000 after purchasing an additional 7,235 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $585,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEG. Barclays cut their price target 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. Morgan Stanley raised their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, BMO Capital Markets increased their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $86.69.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’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 sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 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 completion of the transaction, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at approximately $2,271,660.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction on 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 directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,783 shares of company stock worth $2,381,626. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.05 during mid-day trading on Thursday, reaching $87.06. The stock had a trading volume of 290,326 shares, compared to its average volume of 2,774,840. The firm’s 50 day simple moving average is $87.20 and its 200 day simple moving average is $79.69. 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 one year low of $56.85 and a one year high of $92.20. The firm has a market cap of $43.38 billion, a PE ratio of 21.39, a P/E/G ratio of 3.17 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $0.85 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast 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.