Insight Advisors LLC PA Sells 6,820 Shares of Public Service Enterprise Group Incorporated $PEG

Insight Advisors LLC PA trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,193 shares of the utilities provider’s stock after selling 6,820 shares during the period. Insight Advisors LLC PA’s holdings in Public Service Enterprise Group were worth $825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. lifted its position in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at $33,000. Motiv8 Investments LLC bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $44,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PEG shares. Jefferies Financial Group reduced their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Truist Financial raised their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Wells Fargo & Company lifted their price target on shares of 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. Finally, BMO Capital Markets boosted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $91.68.

Public Service Enterprise Group Stock Performance

PEG stock opened at $77.25 on Wednesday. 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 business has a 50-day moving average price of $79.58 and a 200 day moving average price of $80.86. The company has a market capitalization of $38.50 billion, a P/E ratio of 17.09, a PEG ratio of 2.93 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 9,284 shares of company stock worth $746,145. Insiders own 0.19% of the company’s stock.

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.