Insider Selling: Public Service Enterprise Group (NYSE:PEG) CEO Sells $140,560.84 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $67.48, for a total value of $140,560.84. Following the sale, the chief executive officer owned 279,490 shares in the company, valued at $18,859,985.20. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Price Performance

PEG opened at $68.05 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company has a market cap of $33.91 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.56 and a beta of 0.50. The stock has a fifty day simple moving average of $73.00 and a two-hundred day simple moving average of $77.61. Public Service Enterprise Group Incorporated has a 12-month low of $66.15 and a 12-month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently made changes to their positions in the company. Community Financial Services Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $26,000. Elevation Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Aberdeen Wealth Management LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $32,000. Finally, Bayban bought a new position in shares of Public Service Enterprise Group during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Royal Bank Of Canada began 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 on the stock. Citigroup reduced their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Truist Financial lowered their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.23.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Founded in 1903, the company operates primarily through its regulated utility subsidiary, Public Service Electric and Gas Company (PSE&G), and its competitive energy businesses.

PSE&G is New Jersey’s largest electric and gas utility, providing electricity and natural gas delivery, transmission, distribution, and related customer services to residential, commercial, and industrial customers across the state.