Rakuten Investment Management Inc. Invests $6.72 Million in Public Service Enterprise Group Incorporated $PEG

Rakuten Investment Management Inc. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, Holdings Channel reports. The institutional investor acquired 81,530 shares of the utilities provider’s stock, valued at approximately $6,721,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at about $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Finally, Aberdeen Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $32,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Kim C. Hanemann sold 3,035 shares of the company’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 transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Down 0.4%

Public Service Enterprise Group stock opened at $73.07 on Friday. The firm has a market capitalization of $36.42 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a twelve month low of $72.53 and a twelve month high of $87.63. The stock’s fifty day simple moving average is $78.06 and its 200-day simple moving average is $80.12.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business posted $0.77 earnings per share. Public Service Enterprise Group’s revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEG. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. Citigroup lowered their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $89.43.

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.