Chartwell Investment Partners LLC Sells 19,767 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

Chartwell Investment Partners LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 37.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,975 shares of the utilities provider’s stock after selling 19,767 shares during the period. Chartwell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $2,942,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of PEG. Ashton Thomas Securities LLC bought a new position in shares of Public Service Enterprise Group during the third quarter worth about $35,000. Los Angeles Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 72.3% during the third quarter. Los Angeles Capital Management LLC now owns 832,016 shares of the utilities provider’s stock valued at $74,224,000 after buying an additional 349,139 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Public Service Enterprise Group by 0.6% during the third quarter. Crossmark Global Holdings Inc. now owns 26,771 shares of the utilities provider’s stock valued at $2,388,000 after buying an additional 164 shares during the last quarter. Colonial River Investments LLC purchased a new position in Public Service Enterprise Group in the third quarter worth $634,000. Finally, Axxcess Wealth Management LLC purchased a new position in Public Service Enterprise Group in the third quarter worth $634,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 1.4 %

Public Service Enterprise Group stock opened at $86.73 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.46 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.14 and a beta of 0.61. The stock has a fifty day simple moving average of $86.95 and a two-hundred day simple moving average of $79.51.

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 company posted $0.85 earnings per share. Public Service Enterprise Group’s revenue was up 7.6% compared to the same quarter last year. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated 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 in the company, valued at $12,014,095.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,910 shares of company stock valued at $3,916,760. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEG. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. BMO Capital Markets upped their target price on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley increased their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group started coverage on Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus 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.