Chartwell Investment Partners LLC Sells 19,767 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Chartwell Investment Partners LLC decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 37.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,975 shares of the utilities provider's stock after selling 19,767 shares during the quarter. Chartwell Investment Partners LLC's holdings in Public Service Enterprise Group were worth $2,942,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. Sei Investments Co. boosted its position in Public Service Enterprise Group by 35.7% during the first quarter. Sei Investments Co. now owns 243,152 shares of the utilities provider's stock valued at $16,237,000 after acquiring an additional 63,983 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Public Service Enterprise Group by 18.7% during the 1st quarter. Russell Investments Group Ltd. now owns 285,077 shares of the utilities provider's stock valued at $19,037,000 after purchasing an additional 44,981 shares in the last quarter. Entropy Technologies LP acquired a new stake in Public Service Enterprise Group during the first quarter worth approximately $1,446,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Public Service Enterprise Group by 8.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 125,387 shares of the utilities provider's stock worth $8,373,000 after purchasing an additional 10,118 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Public Service Enterprise Group by 4.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 604,698 shares of the utilities provider's stock valued at $37,763,000 after buying an additional 26,992 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.4 %

PEG traded up $0.33 during mid-day trading on Wednesday, reaching $87.06. 2,372,212 shares of the stock were exchanged, compared to its average volume of 2,786,134. 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 debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50 day moving average price of $87.08 and a two-hundred day moving average price of $79.64. The stock has a market capitalization of $43.38 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 3.17 and a beta of 0.61.

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

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated 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 $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 0.00 % decrease in their ownership of the stock. 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 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 transaction, 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. In the last three months, insiders have sold 46,910 shares of company stock worth $3,916,760. Company insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEG. Bank of America lifted 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 note on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a "hold" rating and a $85.00 price objective on the stock. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. UBS Group upped their price target 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. Finally, Evercore ISI increased 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 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.