PNC Financial Services Group Inc. Sells 135,694 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• PNC Financial Services cut its stake in Public Service Enterprise Group by 15% in the fourth quarter, selling 135,694 shares and ending with 769,795 shares valued at about $61.8 million.
• Public Service Enterprise Group beat earnings expectations in its latest quarter, reporting $1.55 EPS versus the $1.44 consensus and revenue of $3.85 billion, up 19.4% from a year earlier.
• The company declared a quarterly dividend of $0.67 per share, equal to an annualized yield of 3.4%, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $93.19.

PNC Financial Services Group Inc. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 769,795 shares of the utilities provider's stock after selling 135,694 shares during the period. PNC Financial Services Group Inc. owned approximately 0.15% of Public Service Enterprise Group worth $61,815,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC increased its position in Public Service Enterprise Group by 5.5% during the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider's stock worth $191,000 after buying an additional 121 shares during the period. Colonial Trust Co SC increased its position in 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 buying an additional 121 shares during the period. JPL Wealth Management LLC increased its position in Public Service Enterprise Group by 0.4% during the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider's stock worth $2,734,000 after buying an additional 122 shares during the period. Transcend Capital Advisors LLC increased its position in Public Service Enterprise Group by 2.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider's stock worth $410,000 after buying an additional 125 shares during the period. Finally, Strategic Investment Advisors MI increased its position in Public Service Enterprise Group by 0.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock worth $1,331,000 after buying an additional 127 shares during the period. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a research report on Monday, April 13th. JPMorgan Chase & Co. boosted their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. One 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.19.

Public Service Enterprise Group Stock Up 0.6%

PEG stock opened at $78.56 on Friday. The company has a market cap of $39.15 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.53. The business has a 50-day simple moving average of $80.56 and a 200 day simple moving average of $81.23. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

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 analysts' consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter 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. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio (DPR) is 59.29%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 firm'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 in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,949 shares of company stock worth $902,747 over the last ninety days. 0.19% of the stock is currently owned by insiders.

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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