Public Service Enterprise Group Incorporated $PEG Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC reduced its stake in Public Service Enterprise Group by 13% in the first quarter, selling 75,563 shares and ending with 505,229 shares valued at about $40.9 million.
• CEO Ralph A. Larossa sold 2,083 shares in a pre-arranged Rule 10b5-1 transaction, while insiders have sold 6,249 shares over the last 90 days and own just 0.19% of the company.
• PEG reported better-than-expected quarterly results with EPS of $1.55 and revenue of $3.85 billion, and it also announced a quarterly dividend of $0.67 per share, implying a 3.3% yield.

SG Americas Securities LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 505,229 shares of the utilities provider's stock after selling 75,563 shares during the period. SG Americas Securities LLC owned 0.10% of Public Service Enterprise Group worth $40,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its stake in Public Service Enterprise Group by 250.5% in the fourth 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 last quarter. Bayban acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $33,000. Motiv8 Investments LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,249 shares of company stock valued at $498,795. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Weiss Ratings cut shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Scotiabank restated a "sector perform" rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. 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. Finally, Truist Financial reduced their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a research report on Monday, May 18th. One 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $93.19.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.47 on Wednesday. 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's 50-day simple moving average is $79.29 and its 200 day simple moving average is $80.76. 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 $40.60 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.03 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is currently 59.29%.

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.

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