Dean Capital Investments Management LLC Decreases Position in Public Service Enterprise Group Inc. (NYSE:PEG)

Dean Capital Investments Management LLC lowered its stake in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,291 shares of the utilities provider’s stock after selling 638 shares during the period. Dean Capital Investments Management LLC’s holdings in Public Service Enterprise Group were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEG. AE Wealth Management LLC raised its position in Public Service Enterprise Group by 8.2% in the 3rd quarter. AE Wealth Management LLC now owns 17,519 shares of the utilities provider’s stock worth $1,088,000 after purchasing an additional 1,324 shares during the period. BBVA USA Bancshares Inc. lifted its stake in shares of Public Service Enterprise Group by 25.9% in the third quarter. BBVA USA Bancshares Inc. now owns 7,300 shares of the utilities provider’s stock worth $454,000 after buying an additional 1,501 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Public Service Enterprise Group by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,058,183 shares of the utilities provider’s stock worth $314,012,000 after buying an additional 67,093 shares in the last quarter. Boston Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 0.4% in the third quarter. Boston Advisors LLC now owns 75,101 shares of the utilities provider’s stock worth $4,662,000 after buying an additional 307 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Public Service Enterprise Group by 45.4% in the third quarter. Tower Research Capital LLC TRC now owns 11,559 shares of the utilities provider’s stock worth $718,000 after buying an additional 3,607 shares in the last quarter. 69.26% of the stock is owned by institutional investors.

In other news, VP Daniel J. Cregg sold 625 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $57.33, for a total value of $35,831.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Derek M. Dirisio sold 2,176 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.08, for a total value of $130,734.08. The disclosure for this sale can be found here. Insiders sold 9,201 shares of company stock valued at $561,770 in the last quarter. 0.51% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, August 13th. They issued an “overweight” rating and a $63.00 target price on the stock. Mizuho boosted their price objective on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $67.00 to $71.00 and gave the company a “buy” rating in a report on Friday, September 6th. Citigroup cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective for the company. in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.16.

PEG stock traded down $0.02 during midday trading on Tuesday, reaching $60.79. 19,312 shares of the company’s stock traded hands, compared to its average volume of 1,803,396. Public Service Enterprise Group Inc. has a 52-week low of $49.22 and a 52-week high of $63.88. The stock has a market cap of $31.07 billion, a P/E ratio of 19.48, a PEG ratio of 5.12 and a beta of 0.28. The company has a current ratio of 0.75, a quick ratio of 0.52 and a debt-to-equity ratio of 0.99. The stock’s 50-day moving average is $62.16 and its 200 day moving average is $60.23.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. During the same period in the prior year, the company earned $0.95 earnings per share. As a group, research analysts expect that Public Service Enterprise Group Inc. will post 3.25 EPS for the current fiscal year.

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; 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.

Featured Story: Cryptocurrencies

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Inc. (NYSE:PEG).

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

Receive News & Ratings for Public Service Enterprise Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Service Enterprise Group and related companies with MarketBeat.com's FREE daily email newsletter.