Swiss Life Asset Management Ltd Sells 23,187 Shares of Public Service Enterprise Group Incorporated $PEG

Swiss Life Asset Management Ltd trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 147,015 shares of the utilities provider’s stock after selling 23,187 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Public Service Enterprise Group were worth $11,805,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Rossby Financial LCC increased its stake in Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after acquiring an additional 121 shares during the last quarter. Colonial Trust Co SC increased its stake in Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the last quarter. JPL Wealth Management LLC increased its stake in Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after acquiring an additional 122 shares during the last quarter. Transcend Capital Advisors LLC increased its stake in Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Investment Advisors MI increased its stake in Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 127 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PEG shares. Scotiabank reissued a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. 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 research note on Thursday, March 5th. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.42.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $78.62 on Wednesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.00 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The firm has a market capitalization of $39.18 billion, a P/E ratio of 17.39, a P/E/G ratio of 2.93 and a beta of 0.53. The company’s 50 day moving average price is $81.45 and its two-hundred day moving average price is $81.45.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company’s quarterly revenue 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 forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% 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 sold 10,949 shares of company stock worth $902,747 in the last 90 days. Company 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.