Public Service Enterprise Group Inc. (PEG) Shares Bought by Unigestion Holding SA

Unigestion Holding SA lifted its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 292.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,496,229 shares of the utilities provider’s stock after purchasing an additional 1,114,566 shares during the quarter. Public Service Enterprise Group accounts for 1.7% of Unigestion Holding SA’s portfolio, making the stock its 8th largest position. Unigestion Holding SA’s holdings in Public Service Enterprise Group were worth $78,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American Research & Management Co. acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $108,000. NuWave Investment Management LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $118,000. Psagot Investment House Ltd. acquired a new position in shares of Public Service Enterprise Group in the third quarter valued at $129,000. Squar Milner Financial Services LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $149,000. Finally, Cordasco Financial Network raised its stake in shares of Public Service Enterprise Group by 63.1% in the second quarter. Cordasco Financial Network now owns 2,842 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

A number of research analysts recently commented on the company. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. UBS Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a research note on Wednesday, October 10th. Argus upped their target price on Public Service Enterprise Group from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 17th. Morgan Stanley set a $59.00 target price on Public Service Enterprise Group and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, Wells Fargo & Co cut their target price on Public Service Enterprise Group from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, September 17th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Public Service Enterprise Group currently has an average rating of “Buy” and an average target price of $56.46.

Shares of PEG stock opened at $53.24 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90. The firm has a market cap of $26.79 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. Public Service Enterprise Group Inc. has a 52 week low of $46.19 and a 52 week high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.91 by $0.04. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, equities analysts predict that Public Service Enterprise Group Inc. will post 3.1 EPS for the current year.

In related news, Chairman Ralph Izzo sold 52,406 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $52.95, for a total value of $2,774,897.70. Following the transaction, the chairman now owns 538,647 shares in the company, valued at $28,521,358.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Derek M. Dirisio sold 2,300 shares of the firm’s stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $53.02, for a total value of $121,946.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,942 shares of company stock worth $8,272,885. 0.58% of the stock is owned by company insiders.

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Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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