Andra AP fonden Sells 101,759 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Andra AP fonden sharply reduced its stake in Public Service Enterprise Group, selling 101,759 shares in the first quarter and cutting its holdings by 88.4% to 13,341 shares valued at about $1.08 million.
• Insiders also sold stock, with COO Kim C. Hanemann and CEO Ralph A. Larossa both making pre-planned Rule 10b5-1 sales in recent months. Insider selling totaled 9,284 shares worth $746,145 over the last 90 days.
• PEG reported solid results and pays a dividend, beating quarterly EPS and revenue estimates and reaffirming FY2026 guidance of $4.28-$4.40 per share. The company also declared a quarterly dividend of $0.67 per share, implying a 3.4% annual yield.

Andra AP fonden trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 88.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,341 shares of the utilities provider's stock after selling 101,759 shares during the quarter. Andra AP fonden's holdings in Public Service Enterprise Group were worth $1,080,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in 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 acquiring an additional 2,189,951 shares during the last quarter. State Street Corp raised its position in Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider's stock valued at $2,277,404,000 after purchasing an additional 762,591 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock valued at $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Public Service Enterprise Group by 9.8% during the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock worth $674,218,000 after purchasing an additional 715,051 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction dated 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 directly owned 98,815 shares in the company, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock worth $746,145 in the last ninety days. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $79.80 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. 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 company has a market capitalization of $39.76 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.51. The business has a 50-day moving average of $79.67 and a 200-day moving average of $80.84.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 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 business 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 posted $1.43 earnings per share. The firm's 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 anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is 59.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEG. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an "overweight" rating for the company in a report on Wednesday. Jefferies Financial Group reduced 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 report on Monday. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Truist Financial raised their price target on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock 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 given a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average price target of $91.25.

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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