Sumitomo Mitsui Trust Group Inc. Reduces Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Mitsui Trust Group Inc. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,128,433 shares of the utilities provider's stock after selling 9,180 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Public Service Enterprise Group worth $100,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEG. Family Firm Inc. purchased a new stake in Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management purchased a new position in Public Service Enterprise Group during the second quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter valued at about $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.6 %

PEG stock traded up $0.49 during trading on Thursday, hitting $87.50. 636,058 shares of the company's stock were exchanged, compared to its average volume of 2,776,404. The stock has a market capitalization of $43.60 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 3.17 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business has a 50-day moving average price of $87.20 and a two-hundred day moving average price of $79.69.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its 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. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the firm posted $0.85 EPS. The company's revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 $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 is available at the SEC website. In other news, EVP Tamara Louise Linde sold 9,564 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total value of $866,594.04. Following the completion of the sale, the executive vice president now directly owns 48,397 shares of the company's stock, valued at $4,385,252.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $111,190.82. Following the completion of the transaction, the chief executive officer now 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. Insiders sold a total of 27,783 shares of company stock valued at $2,381,626 in the last three months. 0.57% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEG shares. Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted 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. Morgan Stanley raised 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 research note on Monday, September 23rd. 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 report on Tuesday, November 5th. Finally, Scotiabank upped their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.