Public Service Enterprise Group Incorporated (NYSE:PEG) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,618 shares of the utilities provider’s stock after acquiring an additional 6,193 shares during the period. Mutual of America Capital Management LLC’s holdings in Public Service Enterprise Group were worth $11,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Family Firm Inc. acquired a new position in Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $35,000. Ashton Thomas Securities LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $48,000. Finally, Country Trust Bank acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $52,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, 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 completion of the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. The trade was a 16.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the completion of the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. 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 three months. 0.57% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $88.99 on Monday. 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’s 50-day moving average price is $87.50 and its 200 day moving average price is $80.03. Public Service Enterprise Group Incorporated has a 52 week low of $56.85 and a 52 week high of $92.20. The stock has a market cap of $44.34 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 3.27 and a beta of 0.61.

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

Analysts Set New Price Targets

PEG has been the topic of several research reports. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Bank of America boosted their price target on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Scotiabank upped their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Four research 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $86.69.

Public Service Enterprise Group Company 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.