Public Service Enterprise Group Incorporated $PEG Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,948,448 shares of the utilities provider’s stock after selling 147,539 shares during the quarter. Legal & General Group Plc’s holdings in Public Service Enterprise Group were worth $557,960,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Rossby Financial LCC lifted its holdings 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 period. Colonial Trust Co SC lifted its holdings 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 period. JPL Wealth Management LLC lifted its holdings 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 period. Transcend Capital Advisors LLC lifted its holdings 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 period. Finally, Strategic Investment Advisors MI lifted its holdings 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 period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Barclays lifted their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Scotiabank reaffirmed a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

Insider Transactions at Public Service Enterprise Group

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

Public Service Enterprise Group Trading Up 0.1%

NYSE:PEG opened at $79.61 on Tuesday. The company has a market capitalization of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The stock has a fifty day simple moving average of $80.45 and a 200-day simple moving average of $81.21.

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

Public Service Enterprise Group Announces Dividend

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 dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) 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.