Insider Selling: Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Sells $518,905.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares in the company, valued at $2,271,660.55. This represents a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Public Service Enterprise Group Trading Down 0.0 %

NYSE PEG opened at $87.00 on Friday. 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 market capitalization of $43.35 billion, a P/E ratio of 21.38, a PEG ratio of 3.20 and a beta of 0.61. The firm’s 50-day moving average is $87.20 and its two-hundred day moving average is $79.69. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.44 billion. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PEG. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Public Service Enterprise Group by 2.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 27,121 shares of the utilities provider’s stock valued at $1,811,000 after buying an additional 653 shares during the period. Concurrent Investment Advisors LLC grew its position in Public Service Enterprise Group by 3.2% in the 1st quarter. Concurrent Investment Advisors LLC now owns 14,012 shares of the utilities provider’s stock valued at $936,000 after acquiring an additional 439 shares in the last quarter. Sei Investments Co. grew its position in Public Service Enterprise Group by 35.7% in the 1st quarter. Sei Investments Co. now owns 243,152 shares of the utilities provider’s stock valued at $16,237,000 after acquiring an additional 63,983 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Public Service Enterprise Group by 18.7% during the first quarter. Russell Investments Group Ltd. now owns 285,077 shares of the utilities provider’s stock worth $19,037,000 after purchasing an additional 44,981 shares during the period. Finally, Entropy Technologies LP acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth about $1,446,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their target price 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. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Barclays decreased their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley upped their price target 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. Finally, UBS Group boosted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus 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.