What’s a smart Public Service Enterprise Group Inc. (NYSE:PEG) investor to do?
To many investors, hedge funds are assumed to be overrated, outdated investment vehicles of an era lost to time. Although there are over 8,000 hedge funds in operation in present day, this site looks at the bigwigs of this group, close to 525 funds. Analysts calculate that this group has its hands on the lion’s share of all hedge funds’ total assets, and by tracking their highest quality picks, we’ve deciphered a number of investment strategies that have historically outstripped Mr. Market. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve began to sharing our picks with our subscribers at the end of August 2012, we have outpaced the S&P 500 index by 33 percentage points in 11 months (find the details here).
Just as necessary, bullish insider trading sentiment is another way to analyze the marketplace. Just as you’d expect, there are many reasons for an upper level exec to get rid of shares of his or her company, but only one, very clear reason why they would initiate a purchase. Many academic studies have demonstrated the market-beating potential of this tactic if piggybackers understand where to look (learn more here).
Furthermore, let’s analyze the latest info surrounding Public Service Enterprise Group Inc. (NYSE:PEG).
How are hedge funds trading Public Service Enterprise Group Inc. (NYSE:PEG)?
At Q2’s end, a total of 12 of the hedge funds we track were bullish in this stock, a change of 9% from the first quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their holdings meaningfully.
When using filings from the hedgies we track, David Harding’s Winton Capital Management had the biggest position in Public Service Enterprise Group Inc. (NYSE:PEG), worth close to $36 million, comprising 0.4% of its total 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $17.9 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Glenn Russell Dubin’s Highbridge Capital Management, Cliff Asness’s AQR Capital Management and Matthew Tewksbury’s Stevens Capital Management.
Consequently, particular hedge funds were breaking ground themselves. Winton Capital Management, managed by David Harding, initiated the most valuable position in Public Service Enterprise Group Inc. (NYSE:PEG). Winton Capital Management had 36 million invested in the company at the end of the quarter. Jim Simons’s Renaissance Technologies also initiated a $17.9 million position during the quarter. The other funds with new positions in the stock are Glenn Russell Dubin’s Highbridge Capital Management, Cliff Asness’s AQR Capital Management, and Matthew Tewksbury’s Stevens Capital Management.
How are insiders trading Public Service Enterprise Group Inc. (NYSE:PEG)?
Insider buying is most useful when the company in question has seen transactions within the past six months. Over the last six-month time frame, Public Service Enterprise Group Inc. (NYSE:PEG) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to Public Service Enterprise Group Inc. (NYSE:PEG). These stocks are NRG Energy Inc (NYSE:NRG), NiSource Inc. (NYSE:NI), Exelon Corporation (NYSE:EXC), CenterPoint Energy, Inc. (NYSE:CNP), and Northeast Utilities System (NYSE:NU). This group of stocks are in the diversified utilities industry and their market caps are similar to PEG’s market cap.