Daiichi Life Insurance Co. Ltd. Acquires Shares of 102,030 Public Service Enterprise Group Incorporated $PEG

Daiichi Life Insurance Co. Ltd. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 102,030 shares of the utilities provider’s stock, valued at approximately $8,281,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Community Financial Services Group LLC bought a new stake in Public Service Enterprise Group during the second quarter worth $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Public Service Enterprise Group during the second quarter worth $26,000. Elevation Wealth Partners LLC boosted its position in 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. Finally, Quest 10 Wealth Builders Inc. boosted its position in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $72.71 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The business has a fifty day simple moving average of $78.72 and a two-hundred day simple moving average of $80.37. Public Service Enterprise Group Incorporated has a 1 year low of $72.60 and a 1 year high of $87.63. The company has a market capitalization of $36.24 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly 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 return on equity of 12.42% and a net margin of 16.04%.The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,284 shares of company stock valued at $1,332,751 over the last three months. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. 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. 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. Wells Fargo & Company reduced their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Royal Bank Of Canada started 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 objective for the company. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Hold” and an average price target of $89.43.

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.