Commerzbank Aktiengesellschaft FI Invests $1.44 Million in Public Service Enterprise Group Incorporated $PEG

Key Points

• Commerzbank Aktiengesellschaft FI purchased 17,688 PEG shares worth approximately $1.44 million, while institutional investors collectively own 73.34% of Public Service Enterprise Group.
• Analyst sentiment is mixed but leans cautious: PEG has a consensus “Hold” rating and a $90.23 target price, with several firms recently lowering their price targets.
• PEG beat quarterly EPS expectations, reporting $0.86 versus the $0.80 consensus, but revenue declined 8.9% year over year. The company declared a quarterly dividend of $0.67, equivalent to a 3.5% annualized yield, while insiders sold 17,284 shares over the past three months.

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 17,688 shares of the utilities provider's stock, valued at approximately $1,436,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group during the second quarter valued at $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. raised 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 acquiring an additional 248 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in shares of 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 valued at $28,000 after acquiring an additional 243 shares during the last quarter. Finally, Bayban bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $33,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup dropped their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of 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. Finally, Truist Financial lowered their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating for the company in a report on Thursday, August 13th. One 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. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Hold" and a consensus price target of $90.23.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company's stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 17,284 shares of company stock valued at $1,332,751. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $75.70 on Wednesday. The business's 50 day moving average price is $79.01 and its 200-day moving average price is $80.52. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.20 and a fifty-two week high of $87.63. The company has a market cap of $37.73 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.06. The company 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%.Public Service Enterprise Group's revenue was down 8.9% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 66.67%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source