iA Global Asset Management Inc. Sells 30,066 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• iA Global Asset Management cut its stake in Public Service Enterprise Group by 94.3% in the fourth quarter, selling 30,066 shares and leaving it with 1,825 shares valued at about $147,000.
• Public Service Enterprise Group reported better-than-expected first-quarter results, posting EPS of $1.55 versus $1.44 estimated and revenue of $3.85 billion versus $3.35 billion expected, while revenue rose 19.4% year over year.
• The company also announced a quarterly dividend of $0.67 per share, payable June 30, which annualizes to $2.68 per share and a 3.5% yield.

iA Global Asset Management Inc. lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 94.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,825 shares of the utilities provider's stock after selling 30,066 shares during the period. iA Global Asset Management Inc.'s holdings in Public Service Enterprise Group were worth $147,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PEG. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Quest 10 Wealth Builders Inc. increased its position in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Public Service Enterprise Group in the third quarter worth $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter worth $44,000. Finally, TFC Financial Management Inc. increased its position in Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock worth $47,000 after purchasing an additional 570 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company's stock, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the sale, the chief executive officer directly owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,949 shares of company stock valued at $902,747. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PEG shares. Jefferies Financial Group cut shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Evercore upgraded shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective on the stock in a research report on Thursday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research report on Monday, April 13th. Finally, Scotiabank reiterated a "sector perform" rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.19.

Public Service Enterprise Group Stock Up 0.8%

Shares of PEG opened at $77.44 on Wednesday. The firm has a market capitalization of $38.59 billion, a P/E ratio of 17.13, a P/E/G ratio of 2.90 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average price of $80.77 and a 200-day moving average price of $81.27.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business's revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is currently 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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