Public Service Enterprise Group Incorporated (NYSE:PEG) Holdings Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 34.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 394,215 shares of the utilities provider's stock after selling 210,901 shares during the period. Victory Capital Management Inc. owned 0.08% of Public Service Enterprise Group worth $35,168,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Family Firm Inc. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter valued at about $48,000. Finally, Country Trust Bank acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a "hold" rating and a $85.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 5th. Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $86.69.

Public Service Enterprise Group Stock Up 2.3 %

PEG stock traded up $1.99 during midday trading on Friday, hitting $88.99. 2,473,685 shares of the company's stock were exchanged, compared to its average volume of 2,429,995. The stock has a market capitalization of $44.34 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. 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 firm has a 50 day moving average price of $87.50 and a 200-day moving average price of $79.96. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.85 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,378 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company's stock, valued at approximately $13,305,762.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the 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 sale, the executive vice president now owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,783 shares of company stock valued at $2,381,626 in the last quarter. Insiders own 0.57% of the company's stock.

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.