Chevy Chase Trust Holdings LLC Sells 8,863 Shares of Public Service Enterprise Group Incorporated $PEG

Chevy Chase Trust Holdings LLC cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 255,078 shares of the utilities provider’s stock after selling 8,863 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Public Service Enterprise Group were worth $21,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of PEG. HM Payson & Co. lifted its stake in shares of Public Service Enterprise Group by 3.3% during the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after buying an additional 120 shares in the last quarter. Rossby Financial LCC grew its stake in Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares in the last quarter. Colonial Trust Co SC grew its stake in Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after buying an additional 121 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Public Service Enterprise Group by 2.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after acquiring an additional 125 shares during the period. Finally, Sage Private Wealth Group LLC lifted its position in shares of Public Service Enterprise Group by 4.9% during the third quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.4%

Shares of PEG stock opened at $84.93 on Tuesday. The company has a market capitalization of $42.36 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The business’s fifty day moving average is $82.19 and its 200 day moving average is $81.80. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is presently 63.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. UBS Group dropped their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Barclays lifted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. upped their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.88.

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.