Sei Investments Co. Raises Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Sei Investments Co. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,375 shares of the utilities provider’s stock after purchasing an additional 12,484 shares during the quarter. Sei Investments Co.’s holdings in Public Service Enterprise Group were worth $14,602,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Simplicity Wealth LLC increased its holdings 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 buying an additional 129 shares during the last quarter. Westfuller Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 7.3% in the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 129 shares during the last quarter. Key Financial Inc grew its position 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 acquiring an additional 133 shares in the last quarter. Benjamin Edwards Inc. grew its position in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 134 shares in the last quarter. Finally, CFS Investment Advisory Services LLC grew its position in Public Service Enterprise Group by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEG. Truist Financial upped their price objective 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. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group decreased their price target 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. Finally, BMO Capital Markets raised their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $91.25.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was 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 in the company, 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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Wednesday, July 1st. The stock was 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 owned 285,149 shares in the company, valued at approximately $22,957,345.99. The trade was a 0.73% 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. In the last 90 days, insiders have sold 7,201 shares of company stock valued at $576,984. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $77.52 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The company has a market capitalization of $38.63 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.93 and a beta of 0.51. The firm’s 50-day moving average is $79.79 and its 200 day moving average is $80.85.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. 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 year.

Public Service Enterprise Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

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.