Asset Dedication LLC Has $846,000 Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Asset Dedication LLC reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 32.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,478 shares of the utilities provider’s stock after selling 4,465 shares during the quarter. Asset Dedication LLC’s holdings in Public Service Enterprise Group were worth $846,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents 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. 0.57% of the stock is owned by insiders.

Public Service Enterprise Group Price Performance

PEG opened at $90.21 on Thursday. The company has a fifty day moving average price of $84.32 and a two-hundred day moving average price of $76.70. The firm has a market capitalization of $44.93 billion, a PE ratio of 24.99, a P/E/G ratio of 2.72 and a beta of 0.61. 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 debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEG shares. Barclays lifted their price objective on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Evercore ISI boosted their target price on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, UBS Group raised their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.92.

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.