Korea Investment CORP Invests $24.86 Million in Public Service Enterprise Group Incorporated $PEG

Korea Investment CORP acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 306,326 shares of the utilities provider’s stock, valued at approximately $24,861,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $26,000. Quest 10 Wealth Builders Inc. lifted its holdings 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 worth $28,000 after acquiring an additional 248 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its holdings in shares of 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. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The shares were 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 owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,284 shares of company stock valued at $1,332,751 in the last three months. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $72.71 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52-week low of $72.60 and a 52-week high of $87.63. The firm has a market cap of $36.24 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. The company’s 50 day moving average is $78.72 and its two-hundred day moving average is $80.37.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly 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. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced 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 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Analyst Ratings Changes

PEG has been the subject of several research reports. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Jefferies Financial Group lowered their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup cut their price objective 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. Finally, Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus price target of $89.43.

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.