Vestcor Inc Has $2.65 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Vestcor Inc lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,033 shares of the utilities provider’s stock after selling 22,330 shares during the quarter. Vestcor Inc’s holdings in Public Service Enterprise Group were worth $2,653,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. lifted its stake in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at $44,000. Colonial Trust Co SC lifted its stake in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares during the period. Finally, TFC Financial Management Inc. lifted its stake in shares of Public Service Enterprise Group by 3,000.0% in the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 570 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,249 shares of company stock valued at $498,795. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PEG. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. Truist Financial dropped their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Scotiabank reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $79.48 on Monday. The company has a market capitalization of $39.61 billion, a PE ratio of 17.58, a PEG ratio of 2.99 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s fifty day simple moving average is $79.80 and its 200 day simple moving average is $80.96.

Public Service Enterprise Group (NYSE:PEG) last issued 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. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

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.