Insider Selling: Public Service Enterprise Group (NYSE:PEG) CEO Sells 2,083 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded down $0.06 during midday trading on Tuesday, hitting $76.56. 3,329,416 shares of the company were exchanged, compared to its average volume of 2,928,495. The firm has a market capitalization of $38.15 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 2.89 and a beta of 0.51. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.20 and a fifty-two week high of $91.25. The business has a fifty day simple moving average of $79.67 and a two-hundred day simple moving average of $80.82. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its position in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 940 shares during the last quarter. Woodline Partners LP increased its position in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after purchasing an additional 12,172 shares during the last quarter. Cresset Asset Management LLC raised its stake in Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC boosted its holdings in Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after purchasing an additional 1,649 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial raised their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $91.25.

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.