Kingsview Wealth Management LLC Acquires Shares of 7,377 Public Service Enterprise Group Incorporated $PEG

Kingsview Wealth Management LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,377 shares of the utilities provider’s stock, valued at approximately $599,000.

A number of other institutional investors also recently modified their holdings of the stock. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth $25,000. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Public Service Enterprise Group during the second quarter valued at $26,000. Elevation Wealth Partners LLC boosted its position in 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 last quarter. Finally, Aberdeen Wealth Management LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at about $32,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business’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. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s 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 transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 15,201 shares of company stock valued at $1,172,339. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG opened at $73.07 on Monday. The company has a market cap of $36.42 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. The stock has a 50-day moving average of $78.06 and a 200-day moving average of $80.11. Public Service Enterprise Group Incorporated has a 52-week low of $72.53 and a 52-week high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business earned $0.77 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

PEG has been the topic of several research reports. Truist Financial dropped their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. 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 report on Monday, July 20th. Citigroup cut their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company reduced 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 research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Company 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.