SBI Okasan Asset Management Co.Ltd. Acquires Shares of 9,000 Public Service Enterprise Group Incorporated $PEG

SBI Okasan Asset Management Co.Ltd. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,000 shares of the utilities provider’s stock, valued at approximately $726,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rossby Financial LCC boosted its stake in Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after acquiring an additional 121 shares during the last quarter. Colonial Trust Co SC boosted its stake in Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the last quarter. JPL Wealth Management LLC boosted its stake in Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after acquiring an additional 122 shares during the last quarter. Transcend Capital Advisors LLC boosted its stake in Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Investment Advisors MI boosted its stake in Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 127 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEG shares. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Barclays lifted their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,949 shares of company stock worth $902,747 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $78.55 on Friday. The business has a 50 day simple moving average of $80.05 and a 200 day simple moving average of $81.14. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market cap of $39.14 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.98 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the business earned $1.43 EPS. Public Service Enterprise Group’s revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.