Northwestern Mutual Wealth Management Co. Trims Stock Position in Public Service Enterprise Group Incorporated $PEG

Northwestern Mutual Wealth Management Co. cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,196 shares of the utilities provider’s stock after selling 7,449 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Public Service Enterprise Group were worth $2,184,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Public Service Enterprise Group by 28.6% during the fourth quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock worth $182,759,000 after acquiring an additional 504,632 shares during the period. Assetmark Inc. increased its position in shares of Public Service Enterprise Group by 4.6% during the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares during the period. Greenland Capital Management LP increased its position in shares of Public Service Enterprise Group by 238.9% during the third quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock worth $5,820,000 after acquiring an additional 49,157 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Public Service Enterprise Group by 38.7% during the third quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock worth $75,572,000 after acquiring an additional 252,718 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Public Service Enterprise Group by 13.0% during the third quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock worth $26,262,000 after acquiring an additional 36,100 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.21 on Wednesday. The firm has a market cap of $39.97 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.99 and a beta of 0.53. The company’s 50 day moving average is $80.38 and its 200 day moving average is $81.21. 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 Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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 company had revenue of $3.85 billion for 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 period last year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Barclays lifted their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the sale, the chief executive officer owned 289,315 shares of the company’s stock, valued at $23,495,271.15. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 10,949 shares of company stock valued at $902,747 in the last three months. Insiders own 0.19% of the company’s stock.

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.