Bollard Group LLC Sells 83,516 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Bollard Group LLC cut its stake in Public Service Enterprise Group by 20.4% in the fourth quarter, selling 83,516 shares and leaving it with 326,408 shares worth about $26.2 million.
• PEG reported stronger-than-expected quarterly results, posting EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% year over year.
• Wall Street remains cautiously positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $93.19, while the shares recently traded around $79.63 and offer a 3.4% dividend yield.

Bollard Group LLC lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 326,408 shares of the utilities provider's stock after selling 83,516 shares during the quarter. Public Service Enterprise Group comprises 0.7% of Bollard Group LLC's portfolio, making the stock its 21st biggest holding. Bollard Group LLC owned 0.07% of Public Service Enterprise Group worth $26,210,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Aptus Capital Advisors LLC raised its stake in shares of Public Service Enterprise Group by 3.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 8,761 shares of the utilities provider's stock worth $703,000 after buying an additional 272 shares during the period. Arete Wealth Advisors LLC raised its stake in shares of Public Service Enterprise Group by 10.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 9,190 shares of the utilities provider's stock worth $738,000 after buying an additional 857 shares during the period. Jacobi Capital Management LLC raised its stake in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Jacobi Capital Management LLC now owns 22,769 shares of the utilities provider's stock worth $1,828,000 after buying an additional 197 shares during the period. FORA Capital LLC raised its stake in shares of Public Service Enterprise Group by 225.7% in the fourth quarter. FORA Capital LLC now owns 17,136 shares of the utilities provider's stock worth $1,376,000 after buying an additional 11,875 shares during the period. Finally, Kestra Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 17.2% in the fourth quarter. Kestra Advisory Services LLC now owns 54,683 shares of the utilities provider's stock worth $4,391,000 after buying an additional 8,017 shares during the period. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEG. Scotiabank reaffirmed a "sector perform" rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. BMO Capital Markets raised 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. Wells Fargo & Company raised their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Jefferies Financial Group downgraded Public Service Enterprise Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Evercore upgraded Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.19.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $79.63 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The stock has a 50-day moving average price of $79.57 and a 200 day moving average price of $80.87. The stock has a market capitalization of $39.68 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.00 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released 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 return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last 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. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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 given a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,249 shares of company stock worth $498,795. Company insiders own 0.19% of the company's stock.

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.

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