Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 132.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,240 shares of the utilities provider’s stock after purchasing an additional 62,868 shares during the period. Assenagon Asset Management S.A.’s holdings in Public Service Enterprise Group were worth $9,835,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PEG. Family Firm Inc. purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Salomon & Ludwin LLC raised its holdings in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 560 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The shares were 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 approximately $4,385,252.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’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 in the company, valued at approximately $13,305,762.80. This trade represents 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 link. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction 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 approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 over the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target 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. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Barclays lifted their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Evercore ISI increased their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Finally, Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.15.

Public Service Enterprise Group Stock Down 1.0 %

PEG stock opened at $89.63 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a 50 day simple moving average of $85.69 and a 200-day simple moving average of $77.92. The company has a market capitalization of $44.64 billion, a P/E ratio of 24.83, a PEG ratio of 2.71 and a beta of 0.61. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20.

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

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.