Motco Reduces Stake in Public Service Enterprise Group Inc. (PEG)

Motco reduced its holdings in Public Service Enterprise Group Inc. (NYSE:PEG) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 110,536 shares of the utilities provider’s stock after selling 3,514 shares during the quarter. Motco’s holdings in Public Service Enterprise Group were worth $5,692,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its position in Public Service Enterprise Group by 239.4% in the third quarter. Ameriprise Financial Inc. now owns 2,187,901 shares of the utilities provider’s stock worth $101,190,000 after purchasing an additional 1,543,256 shares during the last quarter. Jennison Associates LLC purchased a new position in Public Service Enterprise Group in the fourth quarter worth $69,638,000. Canada Pension Plan Investment Board boosted its position in Public Service Enterprise Group by 83.2% in the third quarter. Canada Pension Plan Investment Board now owns 1,664,537 shares of the utilities provider’s stock worth $76,985,000 after purchasing an additional 755,800 shares during the last quarter. BT Investment Management Ltd boosted its position in Public Service Enterprise Group by 26.6% in the third quarter. BT Investment Management Ltd now owns 2,496,675 shares of the utilities provider’s stock worth $115,492,000 after purchasing an additional 524,609 shares during the last quarter. Finally, Reaves W H & Co. Inc. purchased a new position in Public Service Enterprise Group in the third quarter worth $22,266,000. Hedge funds and other institutional investors own 66.40% of the company’s stock.

A number of research analysts have recently commented on PEG shares. ValuEngine upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Wells Fargo & Co upgraded Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Argus upped their target price on Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Finally, Guggenheim reiterated a “buy” rating and issued a $58.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $51.04.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of Public Service Enterprise Group stock in a transaction on Friday, November 17th. The stock was sold at an average price of $51.50, for a total value of $112,527.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph Izzo sold 20,833 shares of Public Service Enterprise Group stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $51.00, for a total value of $1,062,483.00. The disclosure for this sale can be found here. Insiders sold a total of 64,684 shares of company stock valued at $3,344,767 in the last three months. Corporate insiders own 0.61% of the company’s stock.

Public Service Enterprise Group Inc. (NYSE PEG) opened at $47.87 on Thursday. Public Service Enterprise Group Inc. has a 52-week low of $41.67 and a 52-week high of $53.28. The stock has a market capitalization of $24,310.10, a P/E ratio of 46.23, a PEG ratio of 4.08 and a beta of 0.39. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.80 and a quick ratio of 0.56.

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Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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