Thrivent Financial for Lutherans Purchases 6,958 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Thrivent Financial for Lutherans raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,188,556 shares of the utilities provider's stock after acquiring an additional 6,958 shares during the quarter. Thrivent Financial for Lutherans owned 0.24% of Public Service Enterprise Group worth $106,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of PEG. Atlanta Consulting Group Advisors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth about $257,000. Mutual of America Capital Management LLC boosted its position in Public Service Enterprise Group by 5.2% during the third quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider's stock worth $11,206,000 after purchasing an additional 6,193 shares during the period. Maxwell Wealth Strategies Inc. bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $723,000. Empowered Funds LLC boosted its position in shares of Public Service Enterprise Group by 7.7% in the third quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider's stock valued at $746,000 after acquiring an additional 597 shares during the period. Finally, Empirical Finance LLC raised its stake in shares of Public Service Enterprise Group by 2.3% in the third quarter. Empirical Finance LLC now owns 17,282 shares of the utilities provider's stock valued at $1,542,000 after purchasing an additional 381 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares of the company's stock, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares in the company, valued at approximately $2,271,660.55. The trade was a 18.59 % 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 90 days. Corporate insiders own 0.57% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded up $0.44 during trading on Monday, reaching $89.43. 2,443,835 shares of the company's stock were exchanged, compared to its average volume of 2,778,193. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20. The company has a market cap of $44.56 billion, a P/E ratio of 21.86, a PEG ratio of 3.27 and a beta of 0.61. The firm's 50-day moving average price is $87.50 and its 200 day moving average price is $80.03.

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, topping analysts' consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. Public Service Enterprise Group's revenue was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Analyst Upgrades and Downgrades

PEG has been the subject of several recent analyst reports. Scotiabank increased 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 note on Tuesday, August 20th. UBS Group raised their target price 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. Barclays cut their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group began coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They issued a "hold" rating and a $85.00 target price on the stock. Finally, Bank of America lifted their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus price target of $86.69.

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.