PNC Financial Services Group Inc. Has $61.82 Million Holdings in Public Service Enterprise Group Incorporated $PEG

PNC Financial Services Group Inc. trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 769,795 shares of the utilities provider’s stock after selling 135,694 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Public Service Enterprise Group were worth $61,815,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. State Street Corp boosted its stake in shares of Public Service Enterprise Group by 1.0% during the third quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock valued at $2,303,380,000 after purchasing an additional 267,871 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 1.4% during the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after purchasing an additional 648,140 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Public Service Enterprise Group by 6.2% during the third quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock valued at $678,775,000 after purchasing an additional 477,387 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,949 shares of company stock worth $902,747. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $78.56 on Friday. The stock’s 50 day moving average is $80.56 and its 200 day moving average is $81.23. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The firm has a market cap of $39.15 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.94 and a beta of 0.53. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. The company’s revenue 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. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Scotiabank reissued 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. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Finally, Truist Financial cut their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday. One research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

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.