The Manufacturers Life Insurance Company Sells 19,523 Shares of Public Service Enterprise Group Incorporated $PEG

The Manufacturers Life Insurance Company decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.4% during the first quarter, HoldingsChannel reports. The firm owned 804,615 shares of the utilities provider’s stock after selling 19,523 shares during the period. The Manufacturers Life Insurance Company’s holdings in Public Service Enterprise Group were worth $65,134,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Simplicity Wealth LLC lifted its position in shares of Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 129 shares during the period. Westfuller Advisors LLC increased its holdings in Public Service Enterprise Group by 7.3% during the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after buying an additional 129 shares during the period. Key Financial Inc raised its stake in Public Service Enterprise Group by 2.6% in the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after buying an additional 133 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after buying an additional 134 shares during the period. Finally, CFS Investment Advisory Services LLC lifted its holdings in Public Service Enterprise Group by 1.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after buying an additional 138 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.5%

NYSE PEG opened at $77.79 on Thursday. The business has a fifty day moving average price of $79.81 and a 200 day moving average price of $80.86. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a market cap of $38.76 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.97 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS 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. Investors of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Truist Financial increased their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group cut their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.25.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. The transaction 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 dated 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 sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% 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 quarter, insiders have sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is currently 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.