Public Service Enterprise Group Inc. (PEG) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in Public Service Enterprise Group Inc. (NYSE:PEG) by 27.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,582 shares of the utilities provider’s stock after selling 2,835 shares during the period. Cetera Investment Advisers’ holdings in Public Service Enterprise Group were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nordea Investment Management AB lifted its holdings in Public Service Enterprise Group by 1.8% in the third quarter. Nordea Investment Management AB now owns 11,274,720 shares of the utilities provider’s stock worth $521,456,000 after buying an additional 199,441 shares during the period. Legal & General Group Plc lifted its holdings in Public Service Enterprise Group by 2.2% in the third quarter. Legal & General Group Plc now owns 3,211,024 shares of the utilities provider’s stock worth $148,510,000 after buying an additional 70,089 shares during the period. Wells Fargo & Company MN lifted its holdings in Public Service Enterprise Group by 16.3% in the third quarter. Wells Fargo & Company MN now owns 2,681,594 shares of the utilities provider’s stock worth $124,024,000 after buying an additional 376,379 shares during the period. BT Investment Management Ltd lifted its holdings 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 buying an additional 524,609 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings 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 buying an additional 1,543,256 shares during the period. Institutional investors and hedge funds own 66.40% of the company’s stock.

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

Shares of Public Service Enterprise Group Inc. (PEG) opened at $47.62 on Thursday. The firm has a market cap of $24,310.10, a P/E ratio of 16.57, a P/E/G ratio of 4.08 and a beta of 0.39. The company has a current ratio of 0.80, a quick ratio of 0.56 and a debt-to-equity ratio of 0.86. Public Service Enterprise Group Inc. has a 1 year low of $41.67 and a 1 year high of $53.28.

In related news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $51.50, for a total transaction of $112,527.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $51.25, for a total transaction of $1,067,691.25. Following the sale, the chairman now directly owns 645,934 shares of the company’s stock, valued at approximately $33,104,117.50. The disclosure for this sale can be found here. Insiders have sold 64,684 shares of company stock valued at $3,344,767 in the last three months. 0.61% of the stock is owned by insiders.

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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.

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

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