Bollard Group LLC Cuts Position in Public Service Enterprise Group Incorporated $PEG

Bollard Group LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,408 shares of the utilities provider’s stock after selling 83,516 shares during the quarter. Public Service Enterprise Group comprises 0.7% of Bollard Group LLC’s portfolio, making the stock its 21st biggest holding. Bollard Group LLC’s holdings in Public Service Enterprise Group were worth $26,210,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Rossby Financial LCC grew its holdings in Public Service Enterprise Group by 5.5% during the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares in the last quarter. Colonial Trust Co SC grew its holdings in Public Service Enterprise Group by 26.8% during the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after buying an additional 121 shares in the last quarter. JPL Wealth Management LLC grew its holdings in Public Service Enterprise Group by 0.4% during the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after buying an additional 122 shares in the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Public Service Enterprise Group by 0.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 127 shares during the period. Finally, Simplicity Wealth LLC boosted its holdings in shares of Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $79.63 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market capitalization of $39.68 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.00 and a beta of 0.51. The stock has a 50 day moving average price of $79.57 and a 200 day moving average price of $80.87.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent research reports. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Barclays lifted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Truist Financial dropped their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,249 shares of company stock worth $498,795. Insiders own 0.19% of the company’s stock.

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.