Integrated Wealth Concepts LLC Grows Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Integrated Wealth Concepts increased its PEG stake by 68% in the second quarter, bringing its holdings to 36,316 shares valued at approximately $2.95 million. Institutional investors collectively own 73.34% of Public Service Enterprise Group.
• Public Service Enterprise Group reported quarterly EPS of $0.86, beating estimates of $0.80, although revenue fell 8.9% year over year to $2.55 billion. The company maintained its $0.67 quarterly dividend, equivalent to a 3.7% annual yield.
• PEG shares opened at $72.41, near their 52-week low, while analyst sentiment remained mixed with an average “Hold” rating and an average price target of $89.43. Recent analyst actions included several target-price cuts, despite Morgan Stanley and Wells Fargo retaining “Overweight” ratings.

Integrated Wealth Concepts LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 68.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,316 shares of the utilities provider's stock after acquiring an additional 14,694 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Public Service Enterprise Group were worth $2,947,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Entropy Technologies LP boosted its holdings in shares of Public Service Enterprise Group by 115.6% during the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider's stock valued at $1,985,000 after acquiring an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group by 26.3% during the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider's stock valued at $5,593,000 after purchasing an additional 14,406 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Public Service Enterprise Group by 120.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider's stock valued at $5,108,000 after purchasing an additional 34,415 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider's stock valued at $1,756,000 after purchasing an additional 12,468 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Public Service Enterprise Group by 38.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider's stock valued at $156,305,000 after buying an additional 536,363 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard Thigpen sold 8,000 shares of the company's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph LaRossa sold 2,083 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company's stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 15,201 shares of company stock valued at $1,172,339. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.0%

Shares of PEG stock opened at $72.41 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a one year low of $72.08 and a one year high of $87.63. The company's fifty day moving average price is $76.38 and its 200-day moving average price is $79.27. The company has a market capitalization of $36.09 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.73 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. Public Service Enterprise Group's quarterly revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. Wells Fargo & Company decreased their price target 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 dropped their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of "Hold" and an average target price of $89.43.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated NYSE: PEG is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.

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