Tompkins Financial Corp Trims Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tompkins Financial Corp lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 127,332 shares of the utilities provider’s stock after selling 1,154 shares during the period. Public Service Enterprise Group makes up approximately 1.1% of Tompkins Financial Corp’s investment portfolio, making the stock its 27th largest position. Tompkins Financial Corp’s holdings in Public Service Enterprise Group were worth $11,359,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after buying an additional 1,674,827 shares during the period. Sound Shore Management Inc. CT acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $71,298,000. Hsbc Holdings PLC raised its position in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after purchasing an additional 732,443 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Public Service Enterprise Group by 381.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $28,132,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PEG shares. Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Trading Up 1.9 %

NYSE:PEG traded up $1.59 during trading hours on Friday, reaching $85.82. 2,639,223 shares of the company were exchanged, compared to its average volume of 2,790,766. The firm has a market cap of $42.76 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 3.06 and a beta of 0.61. The stock has a 50 day simple moving average of $86.80 and a 200 day simple moving average of $79.19. 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 debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.46.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $0.85 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is currently owned by company insiders.

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.