California Public Employees Retirement System Lowers Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• CalPERS cut its stake in Public Service Enterprise Group by 9.0% in the first quarter, selling 124,842 shares and ending with 1,269,111 shares valued at about $102.7 million. Institutional investors still own a large majority of the company at 73.34%.
• Insiders have been selling shares, including CEO Ralph A. Larossa and COO Kim C. Hanemann, with total insider sales of 9,284 shares worth $746,145 over the last three months. Corporate insiders currently own just 0.19% of the stock.
• Analysts remain mixed but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $92.46. The company also beat quarterly earnings estimates, reported $1.55 EPS, and continues to pay a quarterly dividend of $0.67 per share, or $2.68 annually.

California Public Employees Retirement System lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,269,111 shares of the utilities provider's stock after selling 124,842 shares during the period. California Public Employees Retirement System owned approximately 0.25% of Public Service Enterprise Group worth $102,735,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC grew its position in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock worth $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP raised its position in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock valued at $3,464,000 after purchasing an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its stake in Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock worth $405,000 after purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC lifted its stake in Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock worth $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock worth $4,785,000 after purchasing an additional 1,649 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction 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 represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. This represents a 2.98% 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 a total of 9,284 shares of company stock valued at $746,145 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Jefferies Financial Group lowered Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 target price for the company. Wells Fargo & Company increased 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 report on Wednesday, May 6th. 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 research note on Monday, April 13th. Finally, Truist Financial lifted their price target on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus target price of $92.46.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $78.58 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The business's 50 day simple moving average is $79.60 and its two-hundred day simple moving average is $80.90. The stock has a market capitalization of $39.16 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $3.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

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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