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

Amalgamated Bank boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,941 shares of the utilities provider’s stock after purchasing an additional 160 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $9,005,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. increased its position in shares of Public Service Enterprise Group by 8.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 312,672 shares of the utilities provider’s stock valued at $27,893,000 after buying an additional 23,347 shares in the last quarter. National Pension Service grew its stake in Public Service Enterprise Group by 8.6% in the third quarter. National Pension Service now owns 673,031 shares of the utilities provider’s stock valued at $60,041,000 after acquiring an additional 53,432 shares during the period. Intact Investment Management Inc. increased its holdings in shares of Public Service Enterprise Group by 10.4% in the third quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider’s stock worth $7,181,000 after acquiring an additional 7,600 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Public Service Enterprise Group by 1.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 123,964 shares of the utilities provider’s stock worth $11,059,000 after purchasing an additional 2,128 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Public Service Enterprise Group by 22.4% during the 3rd quarter. Van ECK Associates Corp now owns 466,761 shares of the utilities provider’s stock valued at $42,349,000 after purchasing an additional 85,464 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PEG shares. Royal Bank of Canada increased their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Scotiabank increased their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Bank of America boosted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.69.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, 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 transaction 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 $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Public Service Enterprise Group 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 transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.18% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.78 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The firm has a 50-day moving average of $86.56 and a 200-day moving average of $78.99. The company has a market cap of $41.74 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 2.87 and a beta of 0.61. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year 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 for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

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.