Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,111 shares of the utilities provider’s stock after acquiring an additional 181 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Public Service Enterprise Group were worth $554,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 47.4% in the third quarter. Farther Finance Advisors LLC now owns 3,681 shares of the utilities provider’s stock worth $328,000 after acquiring an additional 1,184 shares in the last quarter. Americana Partners LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $373,000. Shepherd Financial Partners LLC acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $212,000. Focus Financial Network Inc. acquired a new position in shares of Public Service Enterprise Group in the third quarter worth about $225,000. Finally, Cigna Investments Inc. New lifted its stake in shares of Public Service Enterprise Group by 2.5% in the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEG. Bank of America boosted 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. Scotiabank boosted their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Morgan Stanley boosted their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets boosted 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 equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $81.87 on Tuesday. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.61. The business has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $78.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, 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 41,010 shares of company stock valued at $3,397,855 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

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.