Meiji Yasuda Asset Management Co Ltd. Takes $1.05 Million Position in Public Service Enterprise Group Incorporated $PEG

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,884 shares of the utilities provider’s stock, valued at approximately $1,046,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Community Financial Services Group LLC bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its stake in shares of Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares during the period. Finally, Bayban purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $33,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,284 shares of company stock valued at $1,332,751 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEG. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Truist Financial cut their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Finally, Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.43.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $73.53 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a one year low of $72.53 and a one year high of $87.63. The company has a 50-day simple moving average of $78.59 and a two-hundred day simple moving average of $80.31. The firm has a market capitalization of $36.65 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared 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 is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s payout ratio is currently 66.67%.

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.