4,443 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by National Wealth Management Group LLC

National Wealth Management Group LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to its most recent filing with the SEC. The firm bought 4,443 shares of the utilities provider’s stock, valued at approximately $366,000.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock valued at $600,317,000 after acquiring an additional 162,261 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 5.2% in the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock valued at $385,439,000 after acquiring an additional 230,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Public Service Enterprise Group by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider’s stock valued at $337,709,000 after acquiring an additional 542,671 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Public Service Enterprise Group by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock valued at $251,979,000 after acquiring an additional 31,631 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.4%

PEG opened at $81.72 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a fifty day moving average of $84.60 and a two-hundred day moving average of $82.22. The stock has a market capitalization of $40.78 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.83 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. UBS Group upped their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Sunday, July 20th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.95.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.