6,838,275 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by Legal & General Group Plc

Legal & General Group Plc acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,838,275 shares of the utilities provider’s stock, valued at approximately $554,994,000.

Other large investors have also bought and sold shares of the company. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC raised its holdings in Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Finally, Aberdeen Wealth Management LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $32,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

PEG stock 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 1 year low of $72.53 and a 1 year high of $87.63. The company has a market cap of $36.65 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. The stock’s fifty day moving average price is $78.59 and its 200-day moving average price is $80.31.

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, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.Public Service Enterprise Group’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Analysts Set New Price Targets

Several analysts have commented on PEG shares. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Citigroup lowered their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Finally, Truist Financial reduced their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.43.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,284 shares of company stock worth $1,332,751 in the last quarter. Company insiders own 0.19% of the company’s stock.

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.