PNC Financial Services Group Inc. Has $31.41 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

PNC Financial Services Group Inc. decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 49.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 387,957 shares of the utilities provider’s stock after selling 381,838 shares during the quarter. PNC Financial Services Group Inc. owned 0.08% of Public Service Enterprise Group worth $31,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PEG. Simplicity Wealth LLC raised its stake in Public Service Enterprise Group by 3.3% during the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after buying an additional 129 shares during the period. Westfuller Advisors LLC raised its holdings in Public Service Enterprise Group by 7.3% during the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after buying an additional 129 shares during the period. Key Financial Inc lifted its stake in Public Service Enterprise Group by 2.6% in the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after buying an additional 133 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after buying an additional 134 shares in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the sale, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. 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 have sold 9,284 shares of company stock valued at $746,145 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PEG shares. Weiss Ratings cut Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Jefferies Financial Group dropped their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Finally, Truist Financial upped their price target on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Public Service Enterprise Group Trading Up 0.1%

NYSE PEG opened at $79.83 on Friday. 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 has a 50 day moving average of $79.74 and a 200-day moving average of $80.83. 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 market cap of $39.78 billion, a PE ratio of 17.66, a PEG ratio of 3.00 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS 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 during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company posted $1.43 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

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.