Sumitomo Mitsui Asset Management Company LTD Has $1.80 Million Position in Public Service Enterprise Group Incorporated (PEG)

Sumitomo Mitsui Asset Management Company LTD lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,837 shares of the utilities provider’s stock after selling 1,152 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Public Service Enterprise Group were worth $1,796,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Granite Investment Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth about $290,000. Calamos Advisors LLC increased its stake in Public Service Enterprise Group by 3.8% during the 3rd quarter. Calamos Advisors LLC now owns 64,106 shares of the utilities provider’s stock valued at $2,965,000 after buying an additional 2,350 shares during the period. First Bank & Trust increased its stake in Public Service Enterprise Group by 22.1% during the 3rd quarter. First Bank & Trust now owns 16,408 shares of the utilities provider’s stock valued at $758,000 after buying an additional 2,971 shares during the period. Rothschild Investment Corp IL increased its stake in Public Service Enterprise Group by 2.6% during the 3rd quarter. Rothschild Investment Corp IL now owns 57,100 shares of the utilities provider’s stock valued at $2,641,000 after buying an additional 1,450 shares during the period. Finally, Korea Investment CORP increased its stake in Public Service Enterprise Group by 25.5% during the 3rd quarter. Korea Investment CORP now owns 146,696 shares of the utilities provider’s stock valued at $6,785,000 after buying an additional 29,800 shares during the period. 64.85% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have commented on PEG shares. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research note on Tuesday, October 10th. BidaskClub raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. J P Morgan Chase & Co raised their target price on shares of Public Service Enterprise Group from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Finally, Evercore ISI raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $46.75 to $50.00 in a research note on Monday, September 25th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Public Service Enterprise Group has a consensus rating of “Buy” and a consensus price target of $50.42.

Public Service Enterprise Group Incorporated (NYSE:PEG) opened at $50.31 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $39.28 and a 12-month high of $50.56. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market cap of $25,458.82, a PE ratio of 17.35, a PEG ratio of 6.57 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter last year, the business posted $0.88 EPS. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. sell-side analysts expect that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current year.

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In other Public Service Enterprise Group news, Chairman Ralph Izzo sold 6,427 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $49.45, for a total value of $317,815.15. Following the completion of the transaction, the chairman now directly owns 708,728 shares in the company, valued at $35,046,599.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,433 shares of company stock valued at $10,247,152. Insiders own 0.61% of the company’s stock.

Public Service Enterprise Group 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.

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

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