Meag Munich Ergo Kapitalanlagegesellschaft MBH Purchases New Stake in Public Service Enterprise Group Incorporated (PEG)

Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 77,928 shares of the utilities provider’s stock, valued at approximately $3,602,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Dimensional Fund Advisors LP raised its position in Public Service Enterprise Group by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 897,109 shares of the utilities provider’s stock valued at $39,783,000 after buying an additional 37,527 shares during the last quarter. CENTRAL TRUST Co raised its position in Public Service Enterprise Group by 77.4% in the 2nd quarter. CENTRAL TRUST Co now owns 5,894 shares of the utilities provider’s stock valued at $253,000 after buying an additional 2,571 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Public Service Enterprise Group by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 188,109 shares of the utilities provider’s stock valued at $8,091,000 after buying an additional 1,600 shares during the last quarter. LS Investment Advisors LLC raised its position in Public Service Enterprise Group by 2.7% in the 2nd quarter. LS Investment Advisors LLC now owns 29,502 shares of the utilities provider’s stock valued at $1,269,000 after buying an additional 781 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Public Service Enterprise Group by 20.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 140,520 shares of the utilities provider’s stock valued at $6,085,000 after buying an additional 24,300 shares during the last quarter. 65.03% of the stock is currently owned by institutional investors.

In other Public Service Enterprise Group news, COO Ralph A. Larossa sold 33,000 shares of Public Service Enterprise Group stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total value of $1,653,960.00. Following the completion of the transaction, the chief operating officer now directly owns 81,241 shares of the company’s stock, valued at approximately $4,071,798.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $46.50, for a total value of $968,734.50. The disclosure for this sale can be found here. Insiders sold a total of 242,433 shares of company stock valued at $11,901,112 over the last ninety days. Insiders own 0.61% of the company’s stock.

A number of brokerages recently issued reports on PEG. Evercore ISI raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $46.75 to $50.00 in a research report on Monday, September 25th. Bank of America Corporation initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $49.00 price target for the company. Barclays PLC upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $49.00 to $51.00 in a research note on Friday, September 22nd. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, October 10th. Finally, Wolfe Research upgraded Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a research note on Monday, July 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Public Service Enterprise Group presently has an average rating of “Buy” and an average price target of $50.42.

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Shares of Public Service Enterprise Group Incorporated (NYSE PEG) opened at $50.66 on Tuesday. The stock has a market capitalization of $25,640.00, a price-to-earnings ratio of 17.37, a P/E/G ratio of 6.59 and a beta of 0.39. Public Service Enterprise Group Incorporated has a one year low of $39.28 and a one year high of $51.03. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

Public Service Enterprise Group (NYSE:PEG) last announced 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). The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. Public Service Enterprise Group had a net margin of 5.73% and a return on equity of 11.33%. Public Service Enterprise Group’s revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. equities analysts predict that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

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.

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

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