Meeder Advisory Services Inc. Cuts Stock Holdings in Public Service Enterprise Group Incorporated (NYSE:PEG)

Meeder Advisory Services Inc. reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,944 shares of the utilities provider’s stock after selling 752 shares during the period. Meeder Advisory Services Inc.’s holdings in Public Service Enterprise Group were worth $1,065,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its stake in shares of Public Service Enterprise Group by 11.9% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,814 shares of the utilities provider’s stock worth $388,000 after buying an additional 619 shares during the last quarter. Blair William & Co. IL grew its stake in Public Service Enterprise Group by 5.8% in the 1st quarter. Blair William & Co. IL now owns 13,458 shares of the utilities provider’s stock valued at $899,000 after purchasing an additional 735 shares during the period. Intech Investment Management LLC increased its position in shares of Public Service Enterprise Group by 34.4% during the 1st quarter. Intech Investment Management LLC now owns 17,053 shares of the utilities provider’s stock valued at $1,139,000 after purchasing an additional 4,362 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth about $333,000. Finally, O Shaughnessy Asset Management LLC increased its holdings in Public Service Enterprise Group by 23.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 27,277 shares of the utilities provider’s stock worth $1,822,000 after buying an additional 5,246 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $89.43 on Tuesday. The firm’s 50 day simple moving average is $87.68 and its 200 day simple moving average is $80.17. The firm has a market capitalization of $44.56 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 3.27 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 1-year low of $56.85 and a 1-year high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. Public Service Enterprise Group’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at approximately $4,610,217.94. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,783 shares of company stock valued at $2,381,626 over the last 90 days. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PEG shares. Morgan Stanley boosted their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Evercore ISI raised their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. UBS Group lifted their price objective on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Bank of America upped their price objective on shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target 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.