Axxcess Wealth Management LLC Buys New Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Axxcess Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,111 shares of the utilities provider's stock, valued at approximately $634,000.

Other hedge funds also recently made changes to their positions in the company. Raymond James & Associates increased its holdings in shares of Public Service Enterprise Group by 315.2% in the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider's stock worth $162,590,000 after buying an additional 1,674,827 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in Public Service Enterprise Group during the second quarter worth approximately $71,298,000. Hsbc Holdings PLC raised its position in Public Service Enterprise Group by 43.2% during the second quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider's stock valued at $178,763,000 after purchasing an additional 732,443 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Public Service Enterprise Group by 381.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 800,848 shares of the utilities provider's stock valued at $59,023,000 after purchasing an additional 634,587 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $28,132,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 0.4 %

PEG stock traded up $0.33 during trading on Wednesday, hitting $87.06. 2,372,212 shares of the company's stock traded hands, compared to its average volume of 2,786,134. The firm has a market capitalization of $43.38 billion, a P/E ratio of 21.40, a PEG ratio of 3.17 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 1 year low of $56.85 and a 1 year high of $92.20. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The business has a fifty day simple moving average of $87.08 and a two-hundred day simple moving average of $79.64.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping 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 firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the company 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 anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the firm's stock in a transaction dated 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 approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm's 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 completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,910 shares of company stock valued at $3,916,760. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEG shares. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Barclays decreased their price objective on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, October 21st. 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. Finally, UBS Group increased their target price on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.69.

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.