Public Service Enterprise Group Incorporated $PEG Shares Sold by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. reduced its stake in Public Service Enterprise Group by 37.1% in Q1, maintaining just over 15,700 shares valued at approximately $1.29 million.
• Several institutional investors have increased their positions in Public Service Enterprise Group, with Twin Tree Management LP raising its stake by 429.5%, now owning over 119,000 shares worth approximately $9.81 million.
• The company recently announced a quarterly dividend of $0.63 per share, representing a 3.1% yield, to be paid on September 30.

Nomura Holdings Inc. cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 37.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,721 shares of the utilities provider's stock after selling 9,281 shares during the period. Nomura Holdings Inc.'s holdings in Public Service Enterprise Group were worth $1,294,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Twin Tree Management LP lifted its stake in shares of Public Service Enterprise Group by 429.5% in the 1st quarter. Twin Tree Management LP now owns 119,251 shares of the utilities provider's stock worth $9,814,000 after purchasing an additional 96,730 shares during the period. Baird Financial Group Inc. grew its position in Public Service Enterprise Group by 4.0% during the 1st quarter. Baird Financial Group Inc. now owns 34,898 shares of the utilities provider's stock worth $2,872,000 after purchasing an additional 1,345 shares during the last quarter. Vident Advisory LLC boosted its holdings in Public Service Enterprise Group by 54.5% during the first quarter. Vident Advisory LLC now owns 20,533 shares of the utilities provider's stock worth $1,690,000 after buying an additional 7,243 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Public Service Enterprise Group by 17.1% during the 1st quarter. Itau Unibanco Holding S.A. now owns 23,291 shares of the utilities provider's stock valued at $1,917,000 after buying an additional 3,407 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of Public Service Enterprise Group by 38.1% in the first quarter. BNP Paribas Financial Markets now owns 1,205,127 shares of the utilities provider's stock worth $99,182,000 after purchasing an additional 332,545 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded down $1.18 during mid-day trading on Monday, hitting $79.95. 1,729,963 shares of the company traded hands, compared to its average volume of 2,853,560. The stock's fifty day moving average price is $84.55 and its 200-day moving average price is $82.15. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The firm has a market cap of $39.90 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business's revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PEG shares. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lowered their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets increased their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.