Public Service Enterprise Group Incorporated $PEG Shares Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 114.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,180 shares of the utilities provider’s stock after purchasing an additional 9,154 shares during the period. Jefferies Financial Group Inc.’s holdings in Public Service Enterprise Group were worth $1,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $3,934,000. Quantinno Capital Management LP grew its position in Public Service Enterprise Group by 66.2% in the first quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock valued at $29,100,000 after acquiring an additional 143,148 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Service Enterprise Group during the second quarter worth $15,071,000. Assenagon Asset Management S.A. raised its stake in Public Service Enterprise Group by 2,311.6% during the second quarter. Assenagon Asset Management S.A. now owns 386,895 shares of the utilities provider’s stock worth $31,400,000 after acquiring an additional 370,852 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $12,135,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $73.60, for a total value of $153,308.80. Following the completion of the transaction, the chief executive officer directly owned 276,487 shares of the company’s stock, valued at $20,349,443.20. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock traded up $1.00 during midday trading on Friday, reaching $75.80. 2,372,669 shares of the company’s stock traded hands, compared to its average volume of 3,370,294. The company has a 50-day simple moving average of $71.33 and a two-hundred day simple moving average of $77.78. Public Service Enterprise Group Incorporated has a 1-year low of $66.15 and a 1-year high of $87.63. The company has a market cap of $37.79 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.57 and a beta of 0.48. The company has a quick ratio of 0.78, a current ratio of 1.01 and a debt-to-equity ratio of 1.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.19 billion. Public Service Enterprise Group had a return on equity of 12.40% and a net margin of 14.31%. Public Service Enterprise Group’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BTIG Research reduced their target price on shares of Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, October 22nd. The Goldman Sachs Group dropped their target price on shares of Public Service Enterprise Group from $86.00 to $83.00 in a research report on Thursday, October 15th. Ladenburg Thalmann & Co. Inc. cut their price target on shares of Public Service Enterprise Group from $80.50 to $75.50 and set a “neutral” rating for the company in a report on Tuesday, November 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Public Service Enterprise Group in a research report on Tuesday, November 3rd. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $79.32.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.