Assetmark Inc. Has $67.82 Million Stake in Public Service Enterprise Group Incorporated $PEG

Assetmark Inc. cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,767 shares of the utilities provider’s stock after selling 71,978 shares during the period. Assetmark Inc. owned approximately 0.17% of Public Service Enterprise Group worth $67,817,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. increased its position in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares in the last quarter. Bayban acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $33,000. Motiv8 Investments LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $44,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEG. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective on the stock. Truist Financial upped their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, BMO Capital Markets boosted 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 note on Monday, April 13th. One investment 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 stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $92.46.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $78.58 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company’s 50 day moving average price is $79.60 and its two-hundred day moving average price is $80.90. The stock has a market cap of $39.16 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.99 and a beta of 0.51. 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 (NYSE:PEG) last announced its quarterly earnings data 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the previous year, the firm posted $1.43 earnings per share. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,284 shares of company stock worth $746,145 in the last three months. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company Profile

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.