Selling Buzz: Public Service Enterprise Group Incorporated [PEG] President and CEO LaRossa Ralph A sells 1,054 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Public Service Enterprise Group Incorporated shares valued at $69,303 were sold by LaRossa Ralph A on Sep 07. At $65.75 per share, LaRossa Ralph A sold 1,054 shares. The insider’s holdings dropped to 82,649 shares worth approximately $5.29 million following the completion of this transaction.

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Also, Chernick Rose M sold 200 shares, netting a total of over 12,862 in proceeds. Following the sale of shares at $64.31 each, the insider now holds 30,321 shares.

Before that, IZZO RALPH had sold 9,889 shares from its account. In a trade valued at $638,019, the Executive Chair of the Board traded Public Service Enterprise Group Incorporated shares for $64.52 each. Upon closing the transaction, the insider’s holdings decreased to 9,889 shares, worth approximately $27.62 million.

As published in their initiating research note from Credit Suisse on April 26, 2022, Public Service Enterprise Group Incorporated [PEG] has been a Neutral and the price target has been revised to $76. This represents a 15.83% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in late March. As of January 25, 2022, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for PEG. Earlier on January 13, 2022, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for PEG stock which previously was a “an Overweight”.

Analyzing PEG’s Price Performance

On Thursday, Public Service Enterprise Group Incorporated [NYSE: PEG] plunged -0.79% to $63.97. The stock’s lowest price that day was $63.55, but it reached a high of $64.40 in the same session. During the last five days, there has been a drop of approximately -3.76%. Over the course of the year, Public Service Enterprise Group Incorporated shares have dropped approximately -4.14%. Shares of the company reached a 52-week high of $75.61 on 04/21/22 and a 52-week low of $58.19 on 06/17/22. A 50-day SMA is recorded $65.28, while a 200-day SMA reached $66.26. Nevertheless, trading volume fell to 1.72 million shares from 1.43 million shares the previous day.

Support And Resistance Levels for Public Service Enterprise Group Incorporated (PEG)

According to the 24-hour chart, there is a support level at 63.55, which, if violated, would cause prices to drop to 63.12. In the upper region, resistance lies at 64.40. The next price resistance is at 64.82. RSI (Relative Strength Index) is 39.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.62, which suggests the price will decrease in the coming days. Percent R is at 89.68%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Public Service Enterprise Group Incorporated subject to short interest?

Stocks of Public Service Enterprise Group Incorporated saw a sharp steep in short interest on Aug 30, 2022 dropping by -1.59 million shares to 5.37 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 6.96 million shares. A decline of -29.61% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.34 of the overall float, the days-to-cover ratio (short ratio) decline to 2.34.

Which companies own the most shares of Public Service Enterprise Group Incorporated (PEG)?

According to The Vanguard Group, Inc. filings, the company currently owns 41,568,471 shares, which is about 8.33% of the total PEG shares outstanding. The investor’s shares have appreciated by 113,694 from its previous 13-F filing of 41454777.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $2,084,076,429. SSgA Funds Management, Inc. acquire a 1.90% interest valued at $2.01 billion while Capital Research & Management Co purchased a 2,824,680 stake. A total of 108,942 shares of Public Service Enterprise Group Incorporated were bought by Geode Capital Management LLC during the quarter, and -1,283,244 were sold by Capital Research & Management Co. In its current portfolio, Northern Trust Investments, Inc. holds 6,071,379 shares valued at $390.75 million.


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