Voya Investment Management LLC Sells 79,498 Shares of Public Service Enterprise Group Incorporated $PEG

Voya Investment Management LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,307,555 shares of the utilities provider’s stock after selling 79,498 shares during the quarter. Voya Investment Management LLC owned approximately 0.26% of Public Service Enterprise Group worth $107,498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. REAP Financial Group LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $50,000. Finally, Sound Income Strategies LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 361 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PEG shares. UBS Group increased their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.55.

Public Service Enterprise Group Trading Up 0.9%

NYSE PEG opened at $82.74 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $84.45 and a 200-day moving average of $82.09. The firm has a market cap of $41.29 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.85 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results 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 return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Public Service Enterprise Group’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. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 63.64%.

About Public Service Enterprise Group

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.