55,381 Public Service Enterprise Group Incorporated $PEG Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,229,298 shares of the utilities provider’s stock after selling 55,381 shares during the period. Russell Investments Group Ltd. owned approximately 0.25% of Public Service Enterprise Group worth $82,793,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Aberdeen Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $32,000. Finally, James T. Borello RIA acquired a new position in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $73.60, for a total value of $153,308.80. Following the sale, the chief executive officer owned 276,487 shares of the company’s stock, valued at $20,349,443.20. This trade represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 1.3%

PEG traded up $1.00 on Friday, hitting $75.80. 2,372,669 shares of the company were exchanged, compared to its average volume of 3,370,294. The firm has a 50-day moving average price of $71.33 and a two-hundred day moving average price of $77.78. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. Public Service Enterprise Group Incorporated has a twelve month low of $66.15 and a twelve month high of $87.63. The company has a market cap of $37.79 billion, a price-to-earnings ratio of 21.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The company had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. Public Service Enterprise Group’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PEG. JPMorgan Chase & Co. dropped their target price on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Citigroup lowered their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. BTIG Research dropped their price objective on Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Finally, Barclays dropped their price objective on Public Service Enterprise Group from $83.00 to $76.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average price target of $79.32.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.