Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,422,562 shares of the utilities provider’s stock after selling 15,190 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Public Service Enterprise Group worth $65,793,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in PEG. Dimensional Fund Advisors LP increased its position in Public Service Enterprise Group by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 897,109 shares of the utilities provider’s stock worth $39,783,000 after acquiring an additional 37,527 shares during the period. Nisa Investment Advisors LLC increased its position in Public Service Enterprise Group by 20.9% during the second quarter. Nisa Investment Advisors LLC now owns 140,520 shares of the utilities provider’s stock worth $6,085,000 after acquiring an additional 24,300 shares during the period. Louisiana State Employees Retirement System increased its position in Public Service Enterprise Group by 1.0% during the second quarter. Louisiana State Employees Retirement System now owns 31,400 shares of the utilities provider’s stock worth $1,351,000 after acquiring an additional 300 shares during the period. Alpha Windward LLC increased its position in Public Service Enterprise Group by 1.3% during the second quarter. Alpha Windward LLC now owns 4,991 shares of the utilities provider’s stock worth $215,000 after acquiring an additional 66 shares during the period. Finally, Gradient Investments LLC increased its position in Public Service Enterprise Group by 331.2% during the second quarter. Gradient Investments LLC now owns 3,234 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 2,484 shares during the period. 65.03% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Incorporated (PEG) traded up $0.12 on Friday, hitting $51.50. 5,620,755 shares of the stock were exchanged, compared to its average volume of 2,766,192. Public Service Enterprise Group Incorporated has a one year low of $40.11 and a one year high of $52.12. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. The firm has a market cap of $26,000.00, a P/E ratio of 17.83, a P/E/G ratio of 6.77 and a beta of 0.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter 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. equities analysts predict that Public Service Enterprise Group Incorporated will post 2.92 earnings per share for the current fiscal year.

In related news, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $46.50, for a total transaction of $968,734.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Ralph A. Larossa sold 33,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $50.12, for a total transaction of $1,653,960.00. Following the sale, the chief operating officer now owns 81,241 shares in the company, valued at $4,071,798.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,433 shares of company stock worth $11,901,112. 0.61% of the stock is currently owned by corporate insiders.

A number of research firms recently commented on PEG. Wells Fargo & Company raised shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Argus raised their price target on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Bank of America Corporation began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 24th. They set a “neutral” rating and a $49.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $46.50 price target on shares of Public Service Enterprise Group in a research report on Thursday, October 12th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Public Service Enterprise Group presently has a consensus rating of “Buy” and a consensus target price of $50.42.

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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.

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

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