Sumitomo Life Insurance Co. Boosts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Sumitomo Life Insurance Co. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,152 shares of the utilities provider’s stock after buying an additional 413 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Public Service Enterprise Group were worth $1,352,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Public Service Enterprise Group by 1.8% during the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after acquiring an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC boosted its position in Public Service Enterprise Group by 0.5% during the second quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after purchasing an additional 135 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Public Service Enterprise Group by 4.1% in the second quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after purchasing an additional 153 shares during the period. Evergreen Wealth Solutions LLC increased its position in shares of Public Service Enterprise Group by 1.7% in the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after buying an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC raised its stake in shares of Public Service Enterprise Group by 2.7% during the 2nd quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock worth $441,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 2.3 %

Shares of PEG stock opened at $90.21 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group Incorporated has a twelve month low of $56.85 and a twelve month high of $92.20. The company’s 50-day moving average price is $84.32 and its 200-day moving average price is $76.70. The stock has a market cap of $44.93 billion, a price-to-earnings ratio of 24.99, a PEG ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at $12,014,095.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction 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 completion of the sale, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,010 shares of company stock worth $3,397,855. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEG. UBS Group lifted their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Scotiabank boosted their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Evercore ISI lifted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.92.

Public Service Enterprise Group 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.