Swedbank AB Sells 214,511 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 425,005 shares of the utilities provider’s stock after selling 214,511 shares during the quarter. Swedbank AB’s holdings in Public Service Enterprise Group were worth $37,915,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Hsbc Holdings PLC raised its stake in Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after buying an additional 732,443 shares during the last quarter. Raymond James & Associates raised its stake in Public Service Enterprise Group by 315.2% in the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after buying an additional 1,674,827 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Public Service Enterprise Group by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after buying an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. raised its stake in Public Service Enterprise Group by 73.9% in the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock valued at $104,978,000 after buying an additional 667,773 shares during the last quarter. Finally, Energy Income Partners LLC raised its stake in Public Service Enterprise Group by 14.2% in the first quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock valued at $104,023,000 after buying an additional 193,736 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Barclays increased their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective on the stock. 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. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.92.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred 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 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 three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Up 2.3 %

Shares of PEG opened at $90.21 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The stock’s 50 day moving average is $84.32 and its two-hundred day moving average is $76.70. The firm has a market cap of $44.93 billion, a P/E ratio of 24.99, a PEG ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal 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.