Public Service Enterprise Group Incorporated $PEG Shares Bought by Motco

Key Points

• Motco massively increased its stake in Public Service Enterprise Group, boosting its holdings by 2,253.5% in the fourth quarter to 46,905 shares worth about $3.77 million.
• Insiders have been selling shares, including CEO Ralph A. Larossa and SVP Richard T. Thigpen, with insiders selling 10,949 shares worth $902,747 over the last 90 days.
• PEG reported solid earnings and a dividend, beating quarterly EPS and revenue estimates, while also declaring a $0.67 quarterly dividend that implies a 3.4% annual yield.

Motco grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2,253.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,905 shares of the utilities provider's stock after purchasing an additional 44,912 shares during the period. Motco's holdings in Public Service Enterprise Group were worth $3,766,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $221,000. ABN Amro Investment Solutions boosted its stake in shares of Public Service Enterprise Group by 54.8% during the 4th quarter. ABN Amro Investment Solutions now owns 42,257 shares of the utilities provider's stock worth $3,393,000 after purchasing an additional 14,966 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Public Service Enterprise Group by 0.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 18,430 shares of the utilities provider's stock worth $1,480,000 after purchasing an additional 160 shares during the last quarter. Covestor Ltd boosted its stake in shares of Public Service Enterprise Group by 102.2% during the 4th quarter. Covestor Ltd now owns 724 shares of the utilities provider's stock worth $58,000 after purchasing an additional 366 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $568,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $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 accessible through the SEC website. 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 that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,949 shares of company stock worth $902,747 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

PEG opened at $78.14 on Thursday. The company's 50 day simple moving average is $80.66 and its 200 day simple moving average is $81.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The stock has a market capitalization of $38.94 billion, a PE ratio of 17.29, a P/E/G ratio of 2.91 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the company earned $1.43 earnings per share. The company's quarterly revenue 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, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm 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 $0.67 dividend. The ex-dividend date 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 presently 59.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Evercore raised shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Finally, Scotiabank reissued a "sector perform" rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.19.

About Public Service Enterprise Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.