Public Service Enterprise Group Inc. (PEG) Position Cut by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 80.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,000 shares of the utilities provider’s stock after selling 930,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Public Service Enterprise Group were worth $11,614,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its position in Public Service Enterprise Group by 5.0% in the 1st quarter. Principal Financial Group Inc. now owns 827,689 shares of the utilities provider’s stock valued at $41,583,000 after acquiring an additional 39,250 shares in the last quarter. Clinton Group Inc. acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $247,000. IFM Investors Pty Ltd grew its position in Public Service Enterprise Group by 42.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 22,520 shares of the utilities provider’s stock valued at $1,219,000 after acquiring an additional 6,728 shares in the last quarter. State of Alaska Department of Revenue grew its position in Public Service Enterprise Group by 31.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 95,277 shares of the utilities provider’s stock valued at $5,156,000 after acquiring an additional 22,860 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Public Service Enterprise Group by 14.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 197,497 shares of the utilities provider’s stock valued at $10,692,000 after acquiring an additional 24,347 shares in the last quarter. 69.00% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on PEG. MED reaffirmed a “buy” rating on shares of Public Service Enterprise Group in a research report on Monday, November 5th. Deutsche Bank dropped 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. Argus lifted their target price on Public Service Enterprise Group from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 17th. Morgan Stanley set a $59.00 target price on Public Service Enterprise Group and gave the company a “buy” rating in a research report on Thursday, October 11th. Finally, ValuEngine raised Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research report on Thursday, October 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.46.

In related news, Chairman Ralph Izzo sold 52,407 shares of the business’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 transaction of $2,755,035.99. Following the completion of the sale, the chairman now owns 558,073 shares in the company, valued at $29,337,897.61. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Derek M. Dirisio sold 2,300 shares of the business’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. Over the last three months, insiders have sold 156,942 shares of company stock valued at $8,272,885. Corporate insiders own 0.58% of the company’s stock.

Shares of Public Service Enterprise Group stock opened at $53.79 on Friday. Public Service Enterprise Group Inc. has a one year low of $46.19 and a one year high of $56.68. The stock has a market cap of $26.78 billion, a PE ratio of 18.36, a P/E/G 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 announced its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the previous year, the company posted $0.82 earnings per share. On average, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current year.

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About Public Service Enterprise Group

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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