Private Advisor Group LLC reduced its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,589 shares of the utilities provider’s stock after selling 9,741 shares during the period. Private Advisor Group LLC’s holdings in Public Service Enterprise Group were worth $4,466,000 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 company. Nordea Investment Management AB raised its stake in shares of Public Service Enterprise Group by 1.8% in the third quarter. Nordea Investment Management AB now owns 11,274,720 shares of the utilities provider’s stock valued at $521,456,000 after acquiring an additional 199,441 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Public Service Enterprise Group by 2.2% in the third quarter. Legal & General Group Plc now owns 3,211,024 shares of the utilities provider’s stock valued at $148,510,000 after acquiring an additional 70,089 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Public Service Enterprise Group by 16.3% in the third quarter. Wells Fargo & Company MN now owns 2,681,594 shares of the utilities provider’s stock valued at $124,024,000 after acquiring an additional 376,379 shares in the last quarter. BT Investment Management Ltd raised its stake in shares of Public Service Enterprise Group by 26.6% in the third quarter. BT Investment Management Ltd now owns 2,496,675 shares of the utilities provider’s stock valued at $115,492,000 after acquiring an additional 524,609 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 239.4% in the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock valued at $101,190,000 after acquiring an additional 1,543,256 shares in the last quarter. Institutional investors and hedge funds own 66.40% of the company’s stock.

Several analysts have recently issued reports on the company. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Tuesday. Bank of America assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price objective on the stock. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday. Mizuho cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Finally, UBS Group began coverage on Public Service Enterprise Group in a research note on Friday, February 2nd. They issued a “neutral” rating and a $52.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.04.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total transaction of $112,527.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $52.90, for a total value of $1,102,065.70. Following the transaction, the chairman now directly owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,684 shares of company stock worth $3,344,767. 0.61% of the stock is owned by insiders.

Shares of Public Service Enterprise Group Inc. (NYSE PEG) opened at $48.04 on Wednesday. Public Service Enterprise Group Inc. has a 52 week low of $41.67 and a 52 week high of $53.28. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $24,097.57, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 4.50 and a beta of 0.39.

COPYRIGHT VIOLATION NOTICE: This report was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://www.thecerbatgem.com/2018/02/14/private-advisor-group-llc-has-4-47-million-stake-in-public-service-enterprise-group-inc-peg.html.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.