Tompkins Financial Corp Cuts Position in Public Service Enterprise Group Incorporated (NYSE:PEG)

Tompkins Financial Corp trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 127,332 shares of the utilities provider’s stock after selling 1,154 shares during the period. Public Service Enterprise Group accounts for 1.1% of Tompkins Financial Corp’s portfolio, making the stock its 27th largest position. Tompkins Financial Corp’s holdings in Public Service Enterprise Group were worth $11,359,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PEG. Family Firm Inc. acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management acquired a new position in Public Service Enterprise Group during the 2nd quarter valued at about $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the third quarter valued at about $48,000. Country Trust Bank purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $52,000. Finally, Friedenthal Financial acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $52,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,010 shares of company stock worth $3,397,855. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on PEG shares. Bank of America lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada increased their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Scotiabank increased their price target on 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. Four investment 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $86.69.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock traded up $1.59 on Friday, reaching $85.82. The company’s stock had a trading volume of 2,639,223 shares, compared to its average volume of 2,790,766. Public Service Enterprise Group Incorporated has a 52-week low of $56.85 and a 52-week high of $92.20. The company has a market capitalization of $42.76 billion, a P/E ratio of 21.09, a PEG ratio of 3.06 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The stock has a 50-day moving average price of $86.80 and a 200-day moving average price of $79.19.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group Incorporated will post 3.66 EPS for the current year.

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.