Investors Buy Large Volume of Public Service Enterprise Group Put Options (NYSE:PEG)

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) was the recipient of some unusual options trading on Monday. Investors bought 8,216 put options on the stock. This represents an increase of approximately 300% compared to the typical daily volume of 2,054 put options.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $33,000. OFI Invest Asset Management purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at $35,000. Salomon & Ludwin LLC lifted its position in shares of Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider's stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter worth $48,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 6.2 %

NYSE PEG traded down $5.44 on Monday, reaching $81.87. The stock had a trading volume of 5,443,939 shares, compared to its average volume of 2,792,866. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average price of $86.48 and a two-hundred day moving average price of $78.75. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $92.20. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.94 and a beta of 0.61.

Analysts Set New Price Targets

A number of analysts have commented on PEG shares. Bank of America boosted their price target 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. Royal Bank of Canada upped their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the company an "outperform" rating in a research report on Monday, July 15th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 5th. Morgan Stanley upped 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 report on Monday, September 23rd. Finally, Barclays raised their target price on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $87.46.

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.