Public Service Enterprise Group Incorporated $PEG Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 27,196 shares of the utilities provider’s stock after selling 7,449 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Public Service Enterprise Group were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its stake in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $44,000. TFC Financial Management Inc. lifted its stake in shares of Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after buying an additional 570 shares during the period. Finally, Colonial Trust Co SC boosted its holdings 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 purchasing an additional 121 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEG has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. BMO Capital Markets upped 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 report on Monday, April 13th. 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 for the company in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Trading Up 0.9%

Shares of Public Service Enterprise Group stock opened at $80.21 on Wednesday. The firm has a 50-day simple moving average of $80.38 and a two-hundred day simple moving average of $81.21. The company has a market cap of $39.97 billion, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. 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 issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.37 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. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the sale, the chief executive officer owned 289,315 shares of the company’s stock, valued at $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,949 shares of company stock valued at $902,747 in the last three months. Corporate 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.