Swedbank AB Sells 214,511 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Swedbank AB lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 33.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 425,005 shares of the utilities provider’s stock after selling 214,511 shares during the quarter. Swedbank AB owned about 0.09% of Public Service Enterprise Group worth $37,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in Public Service Enterprise Group by 1.8% during the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 131 shares during the period. Bryn Mawr Capital Management LLC grew its holdings in Public Service Enterprise Group by 0.5% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after buying an additional 153 shares in the last quarter. Evergreen Wealth Solutions LLC grew its holdings in Public Service Enterprise Group by 1.7% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after buying an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC grew its holdings in Public Service Enterprise Group by 2.7% during the 2nd quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock valued at $441,000 after buying an additional 160 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their price target on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays raised their price target on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI lifted their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Scotiabank lifted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $86.92.

Public Service Enterprise Group Price Performance

PEG opened at $90.21 on Thursday. The business has a fifty day moving average of $84.32 and a 200 day moving average of $76.70. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market cap of $44.93 billion, a P/E ratio of 24.99, a PEG ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock valued at $3,397,855 in the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.