Public Service Enterprise Group Incorporated $PEG Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Public Service Enterprise Group stake by 16.8% in the first quarter, selling 2.88 million shares and retaining 14.25 million shares worth approximately $1.15 billion. Institutional investors collectively own 73.34% of PEG.
• PEG reported stronger-than-expected quarterly results, with EPS of $1.55 versus the $1.44 consensus and revenue of $3.85 billion, up 19.4% year over year. The company maintained fiscal 2026 EPS guidance of $4.28–$4.40.
• The utility declared a quarterly dividend of $0.67 per share, equivalent to $2.68 annually and a 3.5% yield. Shares opened at $76.82, near their 52-week low, while analysts maintain a “Moderate Buy” consensus and a $91.25 average price target.

Bank of America Corp DE lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,249,114 shares of the utilities provider's stock after selling 2,882,600 shares during the quarter. Bank of America Corp DE owned about 2.86% of Public Service Enterprise Group worth $1,153,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its holdings in Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after buying an additional 248 shares during the period. Bayban acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $33,000. Motiv8 Investments LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $44,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares of the company's stock, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 7,201 shares of company stock valued at $576,984. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.9%

Shares of Public Service Enterprise Group stock opened at $76.82 on Friday. The business has a 50-day moving average price of $79.73 and a 200 day moving average price of $80.82. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The firm has a market cap of $38.28 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.92 and a beta of 0.51. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business's revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 59.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEG shares. Weiss Ratings lowered shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Jefferies Financial Group cut their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 target price on the stock. Truist Financial upped their price target on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets boosted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.25.

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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