Key Financial Inc Acquires 4,620 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Key Financial Inc increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 188.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,074 shares of the utilities provider’s stock after acquiring an additional 4,620 shares during the period. Key Financial Inc’s holdings in Public Service Enterprise Group were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter worth $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $35,000. Salomon & Ludwin LLC increased its stake in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the third quarter worth about $48,000. Finally, Country Trust Bank bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. UBS Group lifted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Scotiabank increased 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 report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.46.

Insiders Place Their Bets

In related news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at $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 is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 48,397 shares in the company, valued at $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 three months. 0.57% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $2.10 during mid-day trading on Friday, hitting $87.31. 2,517,443 shares of the company traded hands, compared to its average volume of 2,780,362. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock’s fifty day moving average price is $86.48 and its 200-day moving average price is $78.55. The firm has a market cap of $43.49 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.91 and a beta of 0.61. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20.

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). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

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.