Public Service Enterprise Group Inc. (PEG) Holdings Reduced by Comerica Bank

Comerica Bank decreased its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,832 shares of the utilities provider’s stock after selling 24,818 shares during the period. Comerica Bank’s holdings in Public Service Enterprise Group were worth $9,060,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Northern Trust Corp raised its position in Public Service Enterprise Group by 1.3% during the 2nd quarter. Northern Trust Corp now owns 5,783,332 shares of the utilities provider’s stock valued at $313,109,000 after purchasing an additional 71,786 shares during the last quarter. FMR LLC raised its position in Public Service Enterprise Group by 4.0% during the 2nd quarter. FMR LLC now owns 4,829,070 shares of the utilities provider’s stock valued at $261,445,000 after purchasing an additional 184,169 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Public Service Enterprise Group by 20.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,328,952 shares of the utilities provider’s stock valued at $228,525,000 after purchasing an additional 729,547 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Public Service Enterprise Group by 100.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,468,152 shares of the utilities provider’s stock worth $185,421,000 after acquiring an additional 1,734,031 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Public Service Enterprise Group by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 3,278,681 shares of the utilities provider’s stock worth $177,509,000 after acquiring an additional 53,372 shares in the last quarter. 69.00% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PEG opened at $53.79 on Friday. Public Service Enterprise Group Inc. has a 52-week low of $46.19 and a 52-week high of $56.68. The company has a market capitalization of $26.79 billion, a PE ratio of 18.36, a PEG ratio of 2.54 and a beta of 0.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.72 and a quick ratio of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same quarter in the prior year, the business posted $0.82 EPS. Equities research analysts forecast that Public Service Enterprise Group Inc. will post 3.1 EPS for the current year.

PEG has been the subject of several research reports. Wells Fargo & Co decreased their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. Goldman Sachs Group lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $53.00 in a research report on Thursday, July 19th. Macquarie increased their target price on Public Service Enterprise Group from $55.50 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, September 24th. ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Finally, Deutsche Bank decreased their target price on Public Service Enterprise Group from $58.00 to $57.00 and set a “hold” rating for the company in a research report on Wednesday, October 31st. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus price target of $56.46.

In related news, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $52.57, for a total value of $2,755,035.99. Following the sale, the chairman now owns 558,073 shares in the company, valued at approximately $29,337,897.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. Insiders sold a total of 156,942 shares of company stock worth $8,272,885 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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

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