The Manufacturers Life Insurance Company Decreases Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• The Manufacturers Life Insurance Company reduced its Public Service Enterprise Group stake by 2.4% in the first quarter, selling 19,523 shares and retaining approximately $65.1 million worth. Institutional investors collectively own 73.34% of the company.
• Public Service Enterprise Group exceeded first-quarter earnings expectations, reporting $1.55 in EPS versus a $1.44 estimate, while revenue rose 19.4% year over year to $3.85 billion. The company maintained 2026 EPS guidance of $4.28–$4.40.
• The utility announced a quarterly dividend of $0.67 per share, equivalent to an annualized yield of about 3.4%. Analysts maintain a “Moderate Buy” consensus, with an average price target of $91.25 versus the stock’s reported price of $77.79.

The Manufacturers Life Insurance Company trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 804,615 shares of the utilities provider's stock after selling 19,523 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.16% of Public Service Enterprise Group worth $65,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Quest 10 Wealth Builders Inc. increased its position in Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 248 shares during the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $33,000. Motiv8 Investments LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% 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. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's 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 sale, the chief executive officer owned 285,149 shares of the company's stock, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock valued at $746,145 in the last ninety days. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 1.5%

NYSE PEG opened at $77.79 on Thursday. The company's 50-day moving average price is $79.81 and its 200-day moving average price is $80.86. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market cap of $38.76 billion, a PE ratio of 17.21, a PEG ratio of 2.97 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25.

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, 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm posted $1.43 EPS. The firm's revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio (DPR) is 59.29%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings cut shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. BMO Capital Markets increased their price objective on shares of 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. Jefferies Financial Group dropped their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $97.00 to $91.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Finally, Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.25.

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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