Resona Asset Management Co. Ltd. Sells 8,066 Shares of Public Service Enterprise Group Incorporated $PEG

Resona Asset Management Co. Ltd. lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,938 shares of the utilities provider’s stock after selling 8,066 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $13,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth about $44,000. Colonial Trust Co SC lifted its holdings in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after buying an additional 121 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its holdings in shares of Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after buying an additional 570 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. The sale 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, SVP Richard T. Thigpen sold 4,700 shares of the 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 transaction, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,949 shares of company stock worth $902,747 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG opened at $78.14 on Thursday. The firm’s 50 day simple moving average is $80.66 and its 200 day simple moving average is $81.25. The company has a market capitalization of $38.94 billion, a P/E ratio of 17.29, a P/E/G ratio of 2.91 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-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 for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PEG. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a report on Thursday, March 5th. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

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.