Crossmark Global Holdings Inc. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 85,711 shares of the utilities provider’s stock, valued at approximately $3,964,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Federated Investors Inc. PA grew its holdings in Public Service Enterprise Group by 179.9% in the second quarter. Federated Investors Inc. PA now owns 6,711,861 shares of the utilities provider’s stock worth $288,677,000 after purchasing an additional 4,314,015 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $84,819,000. Balyasny Asset Management LLC grew its holdings in shares of Public Service Enterprise Group by 413.1% during the second quarter. Balyasny Asset Management LLC now owns 1,986,751 shares of the utilities provider’s stock valued at $85,450,000 after buying an additional 1,599,583 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Public Service Enterprise Group by 179.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,160,960 shares of the utilities provider’s stock valued at $92,943,000 after buying an additional 1,387,377 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Public Service Enterprise Group by 213.4% during the second quarter. Renaissance Technologies LLC now owns 1,492,600 shares of the utilities provider’s stock valued at $64,197,000 after buying an additional 1,016,300 shares during the last quarter. 64.85% of the stock is currently owned by institutional investors and hedge funds.

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

In other news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $46.50, for a total value of $968,734.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Derek M. Dirisio sold 1,500 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, August 23rd. The shares were 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. Insiders have sold a total of 209,433 shares of company stock worth $10,247,152 over the last three months. 0.61% of the stock is currently owned by insiders.

A number of equities research analysts have recently weighed in on PEG shares. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Wolfe Research raised shares of Public Service Enterprise Group from an “underperform” rating to a “market perform” rating in a report on Monday, July 17th. BidaskClub raised shares of Public Service Enterprise Group from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Citigroup Inc. reissued a “neutral” rating and set a $49.00 price objective (up from $44.00) on shares of Public Service Enterprise Group in a report on Thursday, August 10th. Finally, Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $50.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.42.

Public Service Enterprise Group Company 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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