Beacon Investment Advisory Services Inc. cut its holdings in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 12.1% during the 4th quarter, HoldingsChannel reports. The fund owned 10,010 shares of the utilities provider’s stock after selling 1,376 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $516,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PEG. Ameriprise Financial Inc. lifted its holdings in Public Service Enterprise Group by 239.4% during the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock worth $101,190,000 after acquiring an additional 1,543,256 shares in the last quarter. Jennison Associates LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $69,638,000. Canada Pension Plan Investment Board lifted its holdings in Public Service Enterprise Group by 83.2% during the third quarter. Canada Pension Plan Investment Board now owns 1,664,537 shares of the utilities provider’s stock worth $76,985,000 after acquiring an additional 755,800 shares in the last quarter. BT Investment Management Ltd lifted its holdings in Public Service Enterprise Group by 26.6% during the third quarter. BT Investment Management Ltd now owns 2,496,675 shares of the utilities provider’s stock worth $115,492,000 after acquiring an additional 524,609 shares in the last quarter. Finally, Reaves W H & Co. Inc. bought a new position in Public Service Enterprise Group during the third quarter worth about $22,266,000. Hedge funds and other institutional investors own 66.66% of the company’s stock.

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) opened at $50.04 on Monday. Public Service Enterprise Group Inc. has a 12 month low of $41.67 and a 12 month high of $53.28. The stock has a market capitalization of $25,320.00, a PE ratio of 49.06, a price-to-earnings-growth ratio of 4.73 and a beta of 0.39. The company has a quick ratio of 0.56, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

PEG has been the topic of several recent analyst reports. Argus lifted their target price on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, October 10th. Guggenheim reiterated a “buy” rating and set a $58.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a report on Friday. Finally, Jefferies Group reiterated a “hold” rating and set a $46.50 target price on shares of Public Service Enterprise Group in a report on Thursday, October 12th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.46.

In related news, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $52.90, for a total value of $1,102,065.70. Following the completion of the sale, the chairman now directly owns 687,600 shares in the company, valued at approximately $36,374,040. The disclosure for this sale can be found here. Insiders sold a total of 97,684 shares of company stock worth $4,998,727 in the last three months. Company insiders own 0.61% of the company’s stock.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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