102,030 Shares in Public Service Enterprise Group Incorporated $PEG Bought by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 102,030 shares of the utilities provider's stock, valued at approximately $8,281,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Community Financial Services Group LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $26,000. Quest 10 Wealth Builders Inc. raised its stake in 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 buying an additional 248 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider's stock worth $28,000 after buying an additional 243 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Down 2.6%

PEG opened at $72.71 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.60 and a fifty-two week high of $87.63. The firm has a market capitalization of $36.24 billion, a PE ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51. 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's 50-day moving average is $78.72 and its 200 day moving average is $80.37.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company's quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. Public Service Enterprise Group's payout ratio is presently 66.67%.

Insider Buying and Selling

In related news, COO Kim C. Hanemann sold 3,035 shares of the company's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares of the company's stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PEG. Citigroup cut their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating for the company in a report on Friday. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Jefferies Financial Group cut their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a report on Monday, July 20th. 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 price target for the company. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $89.43.

Public Service Enterprise Group 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.

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