New Age Alpha Advisors LLC Has $299,000 Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• New Age Alpha Advisors cut its stake in Public Service Enterprise Group by 87.9% in the fourth quarter, leaving it with 3,720 shares valued at about $299,000.
• Insiders sold shares during the period, including CEO Ralph A. Larossa and SVP Richard T. Thigpen; overall insider selling totaled 10,949 shares worth about $902,747 over the last quarter.
• The utility reported better-than-expected earnings of $1.55 per share on revenue of $3.85 billion, and it also announced a quarterly dividend of $0.67 per share for a 3.4% annualized yield.

New Age Alpha Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 87.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,720 shares of the utilities provider's stock after selling 26,982 shares during the period. New Age Alpha Advisors LLC's holdings in Public Service Enterprise Group were worth $299,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Quest 10 Wealth Builders Inc. lifted its position 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 purchasing an additional 248 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $44,000. Colonial Trust Co SC lifted its position in shares of Public Service Enterprise Group by 26.8% during the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock worth $48,000 after purchasing an additional 121 shares during the last quarter. Finally, TFC Financial Management Inc. lifted its position in shares of Public Service Enterprise Group by 3,000.0% during the 4th 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 and hedge funds own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the company's stock in a transaction that occurred on 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 owned 28,481 shares in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 10,949 shares of company stock worth $902,747. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Scotiabank reaffirmed a "sector perform" rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Jefferies Financial Group cut Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their price target for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.19.

Public Service Enterprise Group Trading Down 0.8%

Public Service Enterprise Group stock opened at $78.55 on Friday. The business has a 50 day moving average price of $80.05 and a two-hundred day moving average price of $81.14. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The stock has a market cap of $39.14 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 2.98 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.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating 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 analysts' expectations of $3.35 billion. During the same quarter in the prior year, the firm posted $1.43 EPS. 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. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend 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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