Principal Financial Group Inc. Acquires 18,344 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Principal Financial Group Inc. grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 602,574 shares of the utilities provider's stock after acquiring an additional 18,344 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Public Service Enterprise Group worth $53,756,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. 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 purchasing an additional 1,674,827 shares in the last quarter. Sound Shore Management Inc. CT bought a new stake in Public Service Enterprise Group in the 2nd quarter worth about $71,298,000. Hsbc Holdings PLC lifted its stake in Public Service Enterprise Group by 43.2% during the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider's stock valued at $178,763,000 after acquiring an additional 732,443 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Public Service Enterprise Group by 381.7% during 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 acquiring an additional 634,587 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $28,132,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 67,524 shares of the company's stock, valued at approximately $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the business'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 $5,419,476.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $2.12 during midday trading on Monday, reaching $87.94. The stock had a trading volume of 2,451,972 shares, compared to its average volume of 2,789,212. The company has a market capitalization of $43.81 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.14 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20. The stock has a 50-day moving average of $86.80 and a 200-day moving average of $79.37. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.46 and a current ratio of 0.68.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. The business 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.85 earnings per share. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a research report on Friday, September 13th. They set a "hold" rating and a $85.00 price objective on the stock. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a "market perform" rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on 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. UBS Group boosted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.69.

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.