Quantitative Investment Management LLC Lowers Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Quantitative Investment Management LLC significantly reduced its holdings in Public Service Enterprise Group by 66.1%, selling 9,663 shares and retaining 4,949 shares valued at approximately $407,000.
• Insider activity includes CEO Ralph A. Larossa selling 1,387 shares at an average price of $83.12, reducing his ownership by 0.63% to 218,328 shares.
• Analysts have issued mixed ratings, with Wall Street Zen downgrading the stock to a "sell" while UBS Group revised their target price upward, indicating ongoing interest and varying opinions in the market.

Quantitative Investment Management LLC cut its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 66.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,949 shares of the utilities provider's stock after selling 9,663 shares during the quarter. Quantitative Investment Management LLC's holdings in Public Service Enterprise Group were worth $407,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $25,000. REAP Financial Group LLC increased its holdings in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at about $32,000. Optiver Holding B.V. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $50,000. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at about $50,000. 73.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated 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 trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. Barclays cut their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. UBS Group increased their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Finally, BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Public Service Enterprise Group Price Performance

NYSE PEG traded down $0.23 during mid-day trading on Friday, hitting $82.36. The stock had a trading volume of 2,254,583 shares, compared to its average volume of 2,784,153. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The stock has a market capitalization of $41.10 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.87 and a beta of 0.45. The firm's 50 day moving average is $84.71 and its 200 day moving average is $82.28. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the company earned $0.63 EPS. The company'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. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 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 Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Public Service Enterprise Group Company 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.