10,850 Shares of Public Service Enterprise Group Incorporated $PEG Bought by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, Holdings Channel reports. The fund acquired 10,850 shares of the utilities provider’s stock, valued at approximately $806,000.

A number of other institutional investors have also recently bought and sold shares of PEG. Kestra Advisory Services LLC increased its stake in Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after acquiring an additional 14,406 shares during the period. Commerce Bank acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $3,934,000. Quantinno Capital Management LP raised its holdings in Public Service Enterprise Group by 66.2% in the 1st quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock valued at $29,100,000 after acquiring an additional 143,148 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at $15,071,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Public Service Enterprise Group by 2,311.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 386,895 shares of the utilities provider’s stock valued at $31,400,000 after acquiring an additional 370,852 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Truist Financial reduced their target price on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, October 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of Public Service Enterprise Group from $73.00 to $69.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $79.32.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $74.72 on Wednesday. The stock has a market cap of $37.25 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.58 and a beta of 0.48. The company has a current ratio of 1.01, a quick ratio of 0.78 and a debt-to-equity ratio of 1.39. The stock’s 50-day moving average is $71.25 and its 200-day moving average is $77.85. Public Service Enterprise Group Incorporated has a 1-year low of $66.15 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The business had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $73.60, for a total transaction of $153,308.80. Following the sale, the chief executive officer directly owned 276,487 shares of the company’s stock, valued at $20,349,443.20. The trade was a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by insiders.

About Public Service Enterprise Group

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.