As Alibaba Group Hldg LTD (BABA) Stock Price Rose, Shareholder Reliance Trust Trimmed Stake; Verition Fund Management Holds Position in Public Svc Enterprise Group (PEG)

January 14, 2018 - By Nellie Frank

Reliance Trust decreased its stake in Alibaba Group Hldg Ltd (BABA) by 35.66% based on its latest 2017Q3 regulatory filing with the SEC. Reliance Trust sold 3,545 shares as the company’s stock rose 22.58% with the market. The institutional investor held 6,395 shares of the business services company at the end of 2017Q3, valued at $1.10M, down from 9,940 at the end of the previous reported quarter. Reliance Trust who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $481.84B market cap company. The stock decreased 0.51% or $0.96 during the last trading session, reaching $187.79. About 11.79 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 57.33% since January 14, 2017 and is uptrending. It has outperformed by 40.63% the S&P500.

Verition Fund Management Llc increased its stake in Public Svc Enterprise Group (PEG) by 6.83% based on its latest 2017Q3 regulatory filing with the SEC. Verition Fund Management Llc bought 8,675 shares as the company’s stock rose 1.22% with the market. The hedge fund held 135,598 shares of the power generation company at the end of 2017Q3, valued at $6.27 million, up from 126,923 at the end of the previous reported quarter. Verition Fund Management Llc who had been investing in Public Svc Enterprise Group for a number of months, seems to be bullish on the $25.35B market cap company. The stock increased 0.20% or $0.1 during the last trading session, reaching $50.1. About 2.85 million shares traded. Public Service Enterprise Group Incorporated (NYSE:PEG) has declined 1.72% since January 14, 2017 and is downtrending. It has underperformed by 18.42% the S&P500.

Verition Fund Management Llc, which manages about $1.22B and $1.24 billion US Long portfolio, decreased its stake in Melco Crown Entmt Ltd (NASDAQ:MPEL) by 39,177 shares to 12,730 shares, valued at $307,000 in 2017Q3, according to the filing. It also reduced its holding in Loews Corp (NYSE:L) by 8,328 shares in the quarter, leaving it with 6,551 shares, and cut its stake in Childrens Pl Inc (NASDAQ:PLCE).

Since August 1, 2017, it had 0 insider purchases, and 8 selling transactions for $11.01 million activity. DiRisio Derek M sold $70,670 worth of stock.

Investors sentiment decreased to 1.06 in Q3 2017. Its down 0.07, from 1.13 in 2017Q2. It worsened, as 39 investors sold PEG shares while 210 reduced holdings. 63 funds opened positions while 200 raised stakes. 327.87 million shares or 0.17% less from 328.43 million shares in 2017Q2 were reported. Stephens Inc Ar invested in 78,994 shares. 98,933 are held by Cibc Asset Mngmt Inc. Meag Munich Ergo Kapitalanlagegesellschaft Mbh holds 0.15% or 77,928 shares in its portfolio. Amalgamated Bank invested 0.08% of its portfolio in Public Service Enterprise Group Incorporated (NYSE:PEG). Nationwide Fund holds 0.04% or 199,956 shares in its portfolio. 900 were accumulated by Covington Capital Management. 404,687 are owned by Reinhart. Weiss Multi stated it has 0.24% in Public Service Enterprise Group Incorporated (NYSE:PEG). Wellington Mngmt Gp Inc Limited Liability Partnership holds 0.02% of its portfolio in Public Service Enterprise Group Incorporated (NYSE:PEG) for 1.48M shares. The New York-based Prelude Llc has invested 0.07% in Public Service Enterprise Group Incorporated (NYSE:PEG). Salzhauer Michael accumulated 0.17% or 8,500 shares. State Of Tennessee Treasury Department reported 157,501 shares. Gotham Asset Ltd Llc holds 0.05% or 69,462 shares in its portfolio. Avalon Advsr Limited Co invested 0.28% of its portfolio in Public Service Enterprise Group Incorporated (NYSE:PEG). State Board Of Administration Of Florida Retirement System holds 710,223 shares or 0.09% of its portfolio.

Among 15 analysts covering Public Service Enterprise Group Incorporated (NYSE:PEG), 10 have Buy rating, 2 Sell and 3 Hold. Therefore 67% are positive. Public Service Enterprise Group Incorporated had 46 analyst reports since September 11, 2015 according to SRatingsIntel. The rating was maintained by Argus Research with “Buy” on Wednesday, October 25. The stock of Public Service Enterprise Group Incorporated (NYSE:PEG) has “Hold” rating given on Sunday, July 23 by RBC Capital Markets. The stock has “Outperform” rating by Wells Fargo on Wednesday, November 1. Mizuho maintained Public Service Enterprise Group Incorporated (NYSE:PEG) on Monday, November 20 with “Buy” rating. The rating was upgraded by Goldman Sachs to “Buy” on Monday, October 17. The firm has “Outperform” rating given on Monday, October 5 by RBC Capital Markets. The stock has “Overweight” rating by Morgan Stanley on Monday, November 13. The firm earned “Hold” rating on Sunday, October 8 by RBC Capital Markets. The stock of Public Service Enterprise Group Incorporated (NYSE:PEG) earned “Equal-Weight” rating by Morgan Stanley on Thursday, August 10. The rating was upgraded by Morgan Stanley on Thursday, September 21 to “Overweight”.

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on January, 23. They expect $1.45 earnings per share, up 33.03% or $0.36 from last year’s $1.09 per share. BABA’s profit will be $3.72 billion for 32.38 P/E if the $1.45 EPS becomes a reality. After $1.02 actual earnings per share reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts 42.16% EPS growth.

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