Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 125,618 shares of the utilities provider’s stock after purchasing an additional 6,193 shares during the period. Mutual of America Capital Management LLC’s holdings in Public Service Enterprise Group were worth $11,206,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Old Port Advisors lifted its position in shares of Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock worth $2,099,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC raised its stake in Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock valued at $827,000 after buying an additional 115 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in Public Service Enterprise Group by 2.5% during the 3rd quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after buying an additional 124 shares during the last quarter. Great Lakes Retirement Inc. grew its position in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after acquiring an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,783 shares of company stock valued at $2,381,626. 0.57% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on PEG. Jefferies Financial Group started coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. Bank of America boosted their price objective on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Stock Performance

PEG stock opened at $88.99 on Monday. The company has a 50-day simple moving average of $87.50 and a 200 day simple moving average of $80.03. The company has a market capitalization of $44.34 billion, a P/E ratio of 21.86, a PEG ratio of 3.27 and a beta of 0.61. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

About Public Service Enterprise Group

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.