First American Bank Has $2.67 Million Holdings in Public Service Enterprise Group Incorporated $PEG

First American Bank lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,987 shares of the utilities provider’s stock after selling 13,201 shares during the quarter. First American Bank’s holdings in Public Service Enterprise Group were worth $2,670,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PEG. Norges Bank acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at $552,280,000. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Public Service Enterprise Group by 174.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after acquiring an additional 1,788,449 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Public Service Enterprise Group by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock valued at $217,483,000 after acquiring an additional 774,256 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. Barclays increased their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned 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 target price of $93.19.

Public Service Enterprise Group Trading Up 0.6%

Public Service Enterprise Group stock opened at $81.87 on Thursday. 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 capitalization of $40.80 billion, a P/E ratio of 18.11, a PEG ratio of 3.06 and a beta of 0.51. The stock has a 50-day simple moving average of $79.30 and a 200 day simple moving average of $80.77.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Public Service Enterprise Group Company Profile

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.