Mirae Asset Global Investments Co. Ltd. Sells 2,240 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,111 shares of the utilities provider’s stock after selling 2,240 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Public Service Enterprise Group were worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $35,000. Salomon & Ludwin LLC raised its holdings in shares of Public Service Enterprise Group by 1,866.7% in the first quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent research reports. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI upped their price target 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. Royal Bank of Canada upped their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Barclays increased their price objective on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.15.

Public Service Enterprise Group Trading Down 2.5 %

PEG stock opened at $88.16 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The company’s 50-day simple moving average is $86.04 and its 200 day simple moving average is $78.25. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The company has a market capitalization of $43.92 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.73 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares in the company, valued at $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. Insiders have sold 41,010 shares of company stock worth $3,397,855 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.