Northwestern Mutual Wealth Management Co. Takes $4.89 Million Position in Public Service Enterprise Group Incorporated $PEG

Northwestern Mutual Wealth Management Co. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 60,227 shares of the utilities provider’s stock, valued at approximately $4,888,000.

Other institutional investors have also added to or reduced their stakes in the company. Community Financial Services Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at about $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of Public Service Enterprise Group by 250.5% during the 4th 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 in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEG has been the subject of a number of recent research reports. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group decreased their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, Truist Financial lowered their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $72.71 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market capitalization of $36.24 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $72.60 and a one year high of $87.63. The business has a 50 day simple moving average of $78.72 and a 200 day simple moving average of $80.37.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. 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 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. This represents a 0.73% 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. Insiders sold 17,284 shares of company stock worth $1,332,751 in the last quarter. 0.19% of the stock is owned by corporate insiders.

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.