Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Acquired by Prossimo Advisors LLC

Prossimo Advisors LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,708 shares of the utilities provider’s stock after acquiring an additional 328 shares during the quarter. Prossimo Advisors LLC’s holdings in Public Service Enterprise Group were worth $420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $510,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Public Service Enterprise Group by 8.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,024 shares of the utilities provider’s stock worth $5,544,000 after acquiring an additional 6,539 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Public Service Enterprise Group by 131.1% during the first quarter. BNP Paribas Financial Markets now owns 693,566 shares of the utilities provider’s stock worth $46,316,000 after purchasing an additional 393,420 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Public Service Enterprise Group by 3.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,037 shares of the utilities provider’s stock valued at $4,343,000 after purchasing an additional 2,303 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Public Service Enterprise Group by 13.2% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,605 shares of the utilities provider’s stock valued at $775,000 after purchasing an additional 1,355 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’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 sale, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. 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. Barclays upped their price target 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. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Morgan Stanley raised their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, UBS Group boosted their price target on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.46.

Public Service Enterprise Group Stock Down 2.3 %

Public Service Enterprise Group stock opened at $87.31 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a 50 day moving average price of $86.48 and a 200 day moving average price of $78.65. Public Service Enterprise Group Incorporated has a fifty-two week low of $56.85 and a fifty-two week high of $92.20. The company has a market capitalization of $43.49 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.61.

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.