Focus Financial Network Inc. Purchases Shares of 2,524 Public Service Enterprise Group Incorporated (NYSE:PEG)

Focus Financial Network Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,524 shares of the utilities provider’s stock, valued at approximately $225,000.

Several other hedge funds also recently modified their holdings of the stock. Norden Group LLC acquired a new stake in Public Service Enterprise Group in the first quarter worth $510,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Public Service Enterprise Group by 8.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,024 shares of the utilities provider’s stock valued at $5,544,000 after buying an additional 6,539 shares during the period. Janney Montgomery Scott LLC increased its position in Public Service Enterprise Group by 3.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,037 shares of the utilities provider’s stock valued at $4,343,000 after buying an additional 2,303 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Public Service Enterprise Group by 13.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,605 shares of the utilities provider’s stock worth $775,000 after buying an additional 1,355 shares during the period. Finally, Choreo LLC boosted its holdings in Public Service Enterprise Group by 2.3% in the first quarter. Choreo LLC now owns 14,998 shares of the utilities provider’s stock worth $1,002,000 after acquiring an additional 332 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PEG. Wells Fargo & Company boosted 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. Scotiabank upped their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Barclays boosted their target price on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Morgan Stanley raised their price target 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. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $87.46.

Public Service Enterprise Group Price Performance

PEG opened at $87.31 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The firm has a 50-day moving average of $86.48 and a 200 day moving average of $78.75. 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 firm has a market cap of $43.49 billion, a P/E ratio of 26.46, a PEG ratio of 2.94 and a beta of 0.61.

Insider Transactions at Public Service Enterprise Group

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

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.