Amalgamated Bank Acquires 160 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Amalgamated Bank increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,941 shares of the utilities provider’s stock after buying an additional 160 shares during the period. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $9,005,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at approximately $48,000. Country Trust Bank acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $52,000. Finally, Friedenthal Financial bought a new stake in shares of Public Service Enterprise Group during the second quarter worth about $52,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total value of $124,295.60. Following the sale, the chief executive officer now owns 147,514 shares of the company’s stock, valued at approximately $13,305,762.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,010 shares of company stock worth $3,397,855 in the last 90 days. Insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

NYSE:PEG opened at $83.78 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The company has a fifty day moving average of $86.56 and a 200 day moving average of $78.99. The firm has a market capitalization of $41.74 billion, a P/E ratio of 25.39, a P/E/G ratio of 2.87 and a beta of 0.61. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. Public Service Enterprise Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PEG shares. Morgan Stanley upped their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Barclays reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company upped 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 report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.69.

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.