Legal & General Group Plc Lowers Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Legal & General Group Plc reduced its stake in Public Service Enterprise Group by 2.1% in the fourth quarter, selling 147,539 shares and ending with 6.95 million shares valued at about $558 million.
• Public Service Enterprise Group reported better-than-expected quarterly results, earning $1.55 per share on revenue of $3.85 billion, and raised its FY 2026 guidance to 4.280-4.400 EPS.
• The utility declared a quarterly dividend of $0.67 per share, implying an annualized payout of $2.68 and a yield of 3.4%, while analysts maintain a Moderate Buy consensus with a $93.19 target price.

Legal & General Group Plc cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,948,448 shares of the utilities provider's stock after selling 147,539 shares during the period. Legal & General Group Plc owned 1.39% of Public Service Enterprise Group worth $557,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Rossby Financial LCC grew its position in shares of Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider's stock worth $191,000 after acquiring an additional 121 shares during the last quarter. Colonial Trust Co SC grew its position in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock worth $48,000 after acquiring an additional 121 shares during the last quarter. JPL Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider's stock worth $2,734,000 after acquiring an additional 122 shares during the last quarter. Transcend Capital Advisors LLC grew its position in shares of Public Service Enterprise Group by 2.6% during the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider's stock worth $410,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Investment Advisors MI grew its position in shares of Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock worth $1,331,000 after acquiring an additional 127 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction 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 trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value 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 position. 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 have sold 10,949 shares of company stock valued at $902,747. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $79.61 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The stock has a fifty day moving average price of $80.45 and a 200 day moving average price of $81.21. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The company has a market cap of $39.67 billion, a PE ratio of 17.61, a P/E/G ratio of 2.99 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share 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 the consensus estimate of $3.35 billion. During the same period last year, the company earned $1.43 earnings per share. The company's revenue for the quarter 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. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Evercore upgraded shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price on the stock in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and lowered their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. increased their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus target price of $93.19.

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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