Cassaday & Co Wealth Management LLC Trims Stake in Public Service Enterprise Group Incorporated (NYSE:PEG)

Cassaday & Co Wealth Management LLC lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,786 shares of the utilities provider’s stock after selling 249 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $605,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PEG. Old Port Advisors raised its position in Public Service Enterprise Group by 0.5% during the third quarter. Old Port Advisors now owns 23,527 shares of the utilities provider’s stock valued at $2,099,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC boosted its stake in Public Service Enterprise Group by 1.3% in the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after buying an additional 115 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of Public Service Enterprise Group by 2.5% during the third quarter. Cigna Investments Inc. New now owns 5,053 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 124 shares in the last quarter. Great Lakes Retirement Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. Great Lakes Retirement Inc. now owns 29,357 shares of the utilities provider’s stock worth $2,619,000 after acquiring an additional 127 shares during the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.5 %

NYSE:PEG opened at $89.43 on Tuesday. Public Service Enterprise Group Incorporated has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The company has a 50-day moving average price of $87.68 and a 200-day moving average price of $80.17. The stock has a market cap of $44.56 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 3.27 and a beta of 0.61.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PEG. Scotiabank lifted their target price 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. Wells Fargo & Company lifted their price objective 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. Evercore ISI increased their target price on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. UBS Group lifted their price target on Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price objective for the company. Four equities research 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, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 18.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This trade represents a 16.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,783 shares of company stock worth $2,381,626. 0.18% of the stock is owned by corporate insiders.

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.