KBC Group NV Has $9.17 Million Stock Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

KBC Group NV boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 162.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,735 shares of the utilities provider's stock after buying an additional 63,565 shares during the period. KBC Group NV's holdings in Public Service Enterprise Group were worth $9,165,000 as of its most recent SEC filing.

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

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $1.99 during midday trading on Friday, hitting $88.99. 2,473,685 shares of the company's stock were exchanged, compared to its average volume of 2,429,995. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The firm has a market cap of $44.34 billion, a P/E ratio of 21.86, a PEG ratio of 3.27 and a beta of 0.61. The stock's 50 day moving average price is $87.50 and its 200-day moving average price is $79.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a research report on Monday, October 21st. Barclays lowered their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a "hold" rating and a $85.00 price objective on the stock. Bank of America increased their price objective on 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. Finally, Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now owns 57,961 shares in the company, valued at approximately $4,610,217.94. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the transaction, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,783 shares of company stock worth $2,381,626. 0.57% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company 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.