CIBC Asset Management Inc Has $13.14 Million Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

CIBC Asset Management Inc lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 84.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 147,246 shares of the utilities provider’s stock after purchasing an additional 67,487 shares during the quarter. CIBC Asset Management Inc’s holdings in Public Service Enterprise Group were worth $13,136,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PEG. Ashton Thomas Securities LLC bought a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $35,000. Family Firm Inc. bought a new stake in Public Service Enterprise Group in the second quarter valued at $33,000. OFI Invest Asset Management acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter valued at approximately $48,000. Finally, Country Trust Bank bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the completion of the sale, the chief executive officer now directly owns 147,514 shares in the company, valued at $13,305,762.80. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,783 shares of company stock worth $2,381,626. Insiders own 0.57% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $88.99 on Friday. Public Service Enterprise Group Incorporated has a one year low of $56.85 and a one year high of $92.20. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company has a market cap of $44.34 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 3.20 and a beta of 0.61. The firm has a 50 day simple moving average of $87.50 and a 200 day simple moving average of $79.96.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PEG has been the topic of several analyst reports. UBS Group increased their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. Scotiabank increased their price objective on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Evercore ISI increased their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.69.

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.