Public Service Enterprise Group Inc. (PEG) Holdings Reduced by Comerica Bank

Comerica Bank trimmed its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 165,832 shares of the utilities provider’s stock after selling 24,818 shares during the period. Comerica Bank’s holdings in Public Service Enterprise Group were worth $9,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC World Markets Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at $811,000. Macquarie Group Ltd. boosted its stake in shares of Public Service Enterprise Group by 6.2% in the 2nd quarter. Macquarie Group Ltd. now owns 528,955 shares of the utilities provider’s stock worth $28,638,000 after buying an additional 30,848 shares during the last quarter. Glen Harbor Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 6.0% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 17,752 shares of the utilities provider’s stock worth $961,000 after buying an additional 1,008 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Public Service Enterprise Group by 19.3% in the 2nd quarter. Toronto Dominion Bank now owns 324,730 shares of the utilities provider’s stock worth $17,577,000 after buying an additional 52,549 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Public Service Enterprise Group by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,143,225 shares of the utilities provider’s stock worth $116,034,000 after buying an additional 195,140 shares during the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

NYSE:PEG opened at $53.79 on Friday. 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 stock has a market cap of $26.79 billion, a price-to-earnings ratio of 18.36, 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 posted its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.04. The business 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 period last year, the firm earned $0.82 earnings per share. As a group, analysts predict that Public Service Enterprise Group Inc. will post 3.1 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on PEG shares. Argus raised their price target on Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Morgan Stanley set a $59.00 price target on Public Service Enterprise Group and gave the stock a “buy” rating in a research note on Thursday, October 11th. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 11th. UBS Group raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $60.00 in a report on Wednesday, October 10th. Finally, Citigroup raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Tuesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.46.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,300 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $53.02, for a total transaction of $121,946.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Ralph Izzo sold 52,407 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the sale, the chairman now directly owns 558,073 shares in the company, valued at $29,337,897.61. The disclosure for this sale can be found here. Over the last three months, insiders have sold 156,942 shares of company stock worth $8,272,885. Insiders own 0.58% of the company’s stock.

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About Public Service Enterprise Group

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.

See Also: Return on Investment (ROI)

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

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