Secure Asset Management LLC Sells 2,563 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Secure Asset Management LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,347 shares of the utilities provider’s stock after selling 2,563 shares during the period. Secure Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,726,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEG. HighPoint Advisor Group LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $535,000. Nomura Holdings Inc. purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $615,000. Los Angeles Capital Management LLC grew its holdings in Public Service Enterprise Group by 14.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 111,847 shares of the utilities provider’s stock valued at $7,469,000 after buying an additional 13,963 shares in the last quarter. First Hawaiian Bank grew its holdings in Public Service Enterprise Group by 21.1% during the 1st quarter. First Hawaiian Bank now owns 6,373 shares of the utilities provider’s stock valued at $426,000 after buying an additional 1,110 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $129,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $89.70 on Friday. The stock has a 50-day moving average price of $84.52 and a 200-day moving average price of $76.79. The company has a market cap of $44.68 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 2.72 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. 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 (NYSE:PEG) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The firm had revenue of $2.42 billion during 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 quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 9,564 shares of the business’s 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 sale, the executive vice president now owns 48,397 shares in the company, valued at $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 available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock worth $3,397,855 in the last quarter. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PEG. Bank of America lifted their target price 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. BMO Capital Markets lifted their target price 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. Jefferies Financial Group began coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price for the company. Barclays lifted their target price 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. Finally, Scotiabank lifted their target price 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $86.92.

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.