Public Service Enterprise Group Incorporated $PEG Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,585 shares of the utilities provider’s stock after selling 7,849 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Public Service Enterprise Group were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PEG. Norges Bank acquired a new position in Public Service Enterprise Group during the fourth quarter worth $552,280,000. Bank of America Corp DE increased its stake in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after acquiring an additional 1,788,449 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Public Service Enterprise Group by 40.0% during the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock valued at $217,483,000 after acquiring an additional 774,256 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 business’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 in the company, valued at approximately $8,102,830. The trade was a 2.98% 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. Insiders sold a total of 9,284 shares of company stock valued at $746,145 in the last quarter. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. Truist Financial boosted their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Stock Up 0.1%

Shares of PEG opened at $79.83 on Friday. The company’s 50-day moving average price is $79.74 and its 200 day moving average price is $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 current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The firm has a market cap of $39.78 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its 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 net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the firm posted $1.43 earnings per share. Public Service Enterprise Group’s revenue 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, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.