Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,014 shares of the utilities provider’s stock after selling 386 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Public Service Enterprise Group were worth $804,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Raymond James & Associates grew its holdings in Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock valued at $255,954,000 after buying an additional 663,012 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Public Service Enterprise Group by 43.2% in the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Public Service Enterprise Group by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock valued at $127,809,000 after acquiring an additional 163,333 shares during the last quarter. Reaves W H & Co. Inc. increased its position in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares in the last quarter. Finally, Energy Income Partners LLC raised its stake in Public Service Enterprise Group by 14.2% in the 1st quarter. Energy Income Partners LLC now owns 1,557,690 shares of the utilities provider’s stock valued at $104,023,000 after purchasing an additional 193,736 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,010 shares of company stock valued at $3,397,855. Company insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $89.63 on Monday. The company has a market cap of $44.64 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.71 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 debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The stock’s 50-day moving average is $85.69 and its 200-day moving average is $77.92.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PEG shares. Barclays lifted their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Royal Bank of Canada raised 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. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.

Public Service Enterprise Group 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.