Skandinaviska Enskilda Banken AB publ Trims Holdings in Public Service Enterprise Group Inc. (PEG)

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Skandinaviska Enskilda Banken AB publ lowered its position in Public Service Enterprise Group Inc. (NYSE:PEG) by 80.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,000 shares of the utilities provider’s stock after selling 930,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Public Service Enterprise Group were worth $11,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. American Research & Management Co. purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $108,000. NuWave Investment Management LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $118,000. Psagot Investment House Ltd. purchased a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $129,000. Squar Milner Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $149,000. Finally, Reilly Financial Advisors LLC raised its stake in shares of Public Service Enterprise Group by 49.2% during the third quarter. Reilly Financial Advisors LLC now owns 3,031 shares of the utilities provider’s stock worth $160,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 69.00% of the company’s stock.

Shares of PEG stock opened at $53.79 on Friday. Public Service Enterprise Group Inc. has a 1-year low of $46.19 and a 1-year high of $56.68. The firm has a market cap of $26.78 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.28. The company has a current ratio of 0.72, a quick ratio of 0.51 and a debt-to-equity ratio of 0.90.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.04. Public Service Enterprise Group had a return on equity of 11.24% and a net margin of 23.54%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. Equities analysts predict that Public Service Enterprise Group Inc. will post 3.1 EPS for the current fiscal year.

Several equities research analysts have recently commented on the company. Mizuho restated a “hold” rating and set a $50.00 price target on shares of Public Service Enterprise Group in a research note on Monday, August 6th. Citigroup upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday, October 9th. Argus upped their price target on Public Service Enterprise Group from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Morgan Stanley cut their price target on Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Finally, UBS Group upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research note on Wednesday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.46.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,300 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $53.02, for a total value of $121,946.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 52,407 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the completion of the sale, the chairman now directly owns 558,073 shares in the company, valued at approximately $29,337,897.61. The disclosure for this sale can be found here. Insiders have sold 156,942 shares of company stock worth $8,272,885 in the last ninety days. 0.58% of the stock is currently owned by corporate insiders.

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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; and 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.

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

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