Assetmark Inc. Has $74.65 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Assetmark Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 836,785 shares of the utilities provider's stock after purchasing an additional 6,314 shares during the quarter. Assetmark Inc. owned 0.17% of Public Service Enterprise Group worth $74,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the second quarter valued at approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the third quarter valued at approximately $48,000. Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. Finally, Friedenthal Financial acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group increased their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Evercore ISI raised their price objective on 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. BMO Capital Markets raised 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. Finally, Bank of America raised their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 1.9 %

Shares of NYSE:PEG traded up $1.59 during midday trading on Friday, hitting $85.82. 2,639,223 shares of the stock were exchanged, compared to its average volume of 2,790,766. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.46 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The business's fifty day simple moving average is $86.80 and its two-hundred day simple moving average is $79.19. The company has a market capitalization of $42.76 billion, a PE ratio of 21.09, a P/E/G ratio of 3.06 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company earned $0.85 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the business's 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 directly owns 148,892 shares in the company, valued at $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,010 shares of company stock valued at $3,397,855 over the last quarter. Insiders own 0.57% of the company's stock.

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.