QRG Capital Management Inc. Lowers Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

QRG Capital Management Inc. reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 33.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,245 shares of the utilities provider's stock after selling 23,682 shares during the period. QRG Capital Management Inc.'s holdings in Public Service Enterprise Group were worth $4,215,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. grew its position in shares of Public Service Enterprise Group by 8.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 312,672 shares of the utilities provider's stock valued at $27,893,000 after buying an additional 23,347 shares during the last quarter. National Pension Service grew its position 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 buying an additional 53,432 shares during the last quarter. Intact Investment Management Inc. grew its position in shares of Public Service Enterprise Group by 10.4% in the 3rd quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider's stock valued at $7,181,000 after buying an additional 7,600 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position 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 buying an additional 2,128 shares during the last quarter. Finally, Van ECK Associates Corp grew 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 valued at $42,349,000 after buying an additional 85,464 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PEG shares. Barclays decreased their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Tuesday. 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. Royal Bank of Canada increased their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an "outperform" rating in a research note on Monday, July 15th. Scotiabank increased their price target on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now owns 48,397 shares of the company's stock, valued at approximately $4,385,252.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,010 shares of company stock worth $3,397,855. 0.18% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.03 during midday trading on Wednesday, hitting $83.81. The company had a trading volume of 2,723,103 shares, compared to its average volume of 2,792,080. 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 twelve month low of $56.85 and a twelve month high of $92.20. The business has a 50-day simple moving average of $86.56 and a two-hundred day simple moving average of $78.99. The firm has a market capitalization of $41.75 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data 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 19.48% and a return on equity of 10.78%. The firm had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

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.