Public Service Enterprise Group Incorporated $PEG Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 42.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,440 shares of the utilities provider’s stock after buying an additional 10,572 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Public Service Enterprise Group were worth $2,846,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. raised its position in Public Service Enterprise Group by 250.5% in the fourth 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. purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at $44,000. Colonial Trust Co SC raised its position 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 period. Finally, TFC Financial Management Inc. raised its position in Public Service Enterprise Group by 3,000.0% in the fourth 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. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Evercore upgraded 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 report on Thursday, March 5th. Truist Financial cut their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $87.50 to $84.50 in a report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the company’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 owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,949 shares of company stock worth $902,747. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Price Performance

PEG stock opened at $79.61 on Monday. The business’s fifty day moving average price is $80.51 and its 200 day moving average price is $81.22. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. 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 capitalization of $39.67 billion, a PE ratio of 17.61, a P/E/G ratio of 2.99 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business earned $1.43 EPS. Public Service Enterprise Group’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Public Service Enterprise Group 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.