Asset Management One Co. Ltd. Buys 23,347 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Asset Management One Co. Ltd. lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 312,672 shares of the utilities provider's stock after acquiring an additional 23,347 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of Public Service Enterprise Group worth $27,893,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. National Pension Service boosted its stake in shares of Public Service Enterprise Group by 8.6% in the 3rd quarter. National Pension Service now owns 673,031 shares of the utilities provider's stock valued at $60,041,000 after purchasing an additional 53,432 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Public Service Enterprise Group by 10.4% during the 3rd quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider's stock worth $7,181,000 after acquiring an additional 7,600 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Public Service Enterprise Group by 1.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 123,964 shares of the utilities provider's stock valued at $11,059,000 after purchasing an additional 2,128 shares during the period. Van ECK Associates Corp boosted its position in shares of Public Service Enterprise Group by 22.4% in the 3rd quarter. Van ECK Associates Corp now owns 466,761 shares of the utilities provider's stock worth $42,349,000 after purchasing an additional 85,464 shares during the last quarter. Finally, Fort Pitt Capital Group LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $200,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

NYSE:PEG traded up $1.91 during midday trading on Tuesday, hitting $83.78. The company had a trading volume of 2,608,325 shares, compared to its average volume of 2,792,401. The company has a market capitalization of $41.74 billion, a PE ratio of 25.39, a P/E/G ratio of 2.87 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The stock's fifty day moving average price is $86.56 and its 200-day moving average price is $78.99.

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, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $0.85 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, October 21st. Royal Bank of Canada boosted their target price on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, July 15th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Bank of America increased 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. Finally, UBS Group boosted 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $86.69.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm's 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's 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 sale, the chief executive officer now directly owns 148,892 shares of the company's stock, valued at $12,014,095.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. 0.18% of the stock is currently owned by insiders.

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.