Vise Technologies Inc. Buys 10,102 Shares of Public Service Enterprise Group Incorporated $PEG

Vise Technologies Inc. boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 71.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,333 shares of the utilities provider’s stock after acquiring an additional 10,102 shares during the quarter. Vise Technologies Inc.’s holdings in Public Service Enterprise Group were worth $1,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PEG. Kestra Advisory Services LLC lifted its holdings in shares of Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after acquiring an additional 14,406 shares during the last quarter. Commerce Bank purchased a new stake in Public Service Enterprise Group during the 2nd quarter valued at $3,934,000. Quantinno Capital Management LP raised its position in Public Service Enterprise Group by 66.2% during the 1st quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock valued at $29,100,000 after purchasing an additional 143,148 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at $15,071,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Public Service Enterprise Group by 2,311.6% during the second quarter. Assenagon Asset Management S.A. now owns 386,895 shares of the utilities provider’s stock valued at $31,400,000 after buying an additional 370,852 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total value of $153,308.80. Following the completion of the sale, the chief executive officer directly owned 276,487 shares in the company, valued at $20,349,443.20. This represents a 0.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 12,166 shares of company stock valued at $890,350. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.8%

PEG traded down $0.58 during trading on Friday, hitting $72.52. 3,294,226 shares of the company’s stock traded hands, compared to its average volume of 3,975,479. Public Service Enterprise Group Incorporated has a 12-month low of $66.15 and a 12-month high of $87.63. The company’s 50 day simple moving average is $71.18 and its two-hundred day simple moving average is $77.90. The stock has a market capitalization of $36.14 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.55 and a beta of 0.48. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.43%. The company had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the previous year, the business earned $1.13 EPS. The business’s revenue was down 6.4% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America dropped their target price on shares of Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Argus decreased their price target on shares of Public Service Enterprise Group from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. Scotiabank lowered their price target on shares of Public Service Enterprise Group from $92.00 to $77.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 30th. Finally, Citigroup dropped their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $79.32.

About Public Service Enterprise Group

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state.

PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.

The company traces its roots to the Public Service Corporation of New Jersey, established in 1903, and serves customers primarily in New Jersey.