Insider Selling: Public Service Enterprise Group (NYSE:PEG) CEO Sells $167,702.33 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.55 on Friday. The firm has a market capitalization of $40.64 billion, a P/E ratio of 18.04, a PEG ratio of 3.07 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The company’s fifty day moving average is $79.48 and its two-hundred day moving average is $80.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. 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. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Analyst Upgrades and Downgrades

PEG has been the topic of several research analyst reports. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $87.50 to $84.50 in a report on Friday, March 13th. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday. They issued a “sector perform” rating and a $81.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock 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 eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPL Wealth Management LLC grew its holdings in shares of Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after buying an additional 122 shares in the last quarter. Strategic Investment Advisors MI boosted its position in Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock worth $1,331,000 after acquiring an additional 127 shares during the last quarter. Simplicity Wealth LLC boosted its position in Public Service Enterprise Group by 3.3% during the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 129 shares during the last quarter. Westfuller Advisors LLC grew its stake in Public Service Enterprise Group by 7.3% in the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after acquiring an additional 129 shares during the period. Finally, Key Financial Inc grew its stake in Public Service Enterprise Group by 2.6% in the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 133 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.