Hartford Investment Management Co. Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Hartford Investment Management Co. trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,530 shares of the utilities provider’s stock after selling 523 shares during the period. Hartford Investment Management Co.’s holdings in Public Service Enterprise Group were worth $2,813,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Raymond James & Associates increased its stake in Public Service Enterprise Group by 315.2% during the second quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock worth $162,590,000 after acquiring an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the second quarter valued at approximately $71,298,000. Hsbc Holdings PLC raised its stake in Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after acquiring an additional 732,443 shares in the last quarter. Reaves W H & Co. Inc. increased its position in shares of Public Service Enterprise Group by 73.9% during the first quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after purchasing an additional 667,773 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in Public Service Enterprise Group by 381.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider’s stock valued at $59,023,000 after buying an additional 634,587 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on PEG. UBS Group lifted their target price on Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays increased their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Scotiabank increased their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Trading Up 1.1 %

Shares of PEG opened at $90.73 on Thursday. The stock’s fifty day simple moving average is $85.31 and its 200 day simple moving average is $77.52. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $45.19 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.71 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group 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.