Dai ichi Life Insurance Company Ltd Lowers Holdings in Public Service Enterprise Group Incorporated $PEG

Dai ichi Life Insurance Company Ltd lowered its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.8% in the first quarter, HoldingsChannel reports. The firm owned 92,585 shares of the utilities provider’s stock after selling 7,849 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Public Service Enterprise Group were worth $7,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth about $25,000. Quest 10 Wealth Builders Inc. boosted its stake in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after buying an additional 248 shares during the period. Bayban purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $33,000. Motiv8 Investments LLC acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $44,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PEG shares. Truist Financial lifted their price target on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $79.83 on Friday. The company has a market capitalization of $39.78 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51. 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 quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The stock has a 50 day moving average price of $79.74 and a 200 day moving average price of $80.83.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $1.43 earnings per share. 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 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction 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 directly owned 285,149 shares of the company’s stock, valued at $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were 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 $8,102,830. This represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,284 shares of company stock worth $746,145 over the last quarter. 0.19% of the stock is owned by company insiders.

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.