First American Bank Sells 13,201 Shares of Public Service Enterprise Group Incorporated $PEG

First American Bank lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 32,987 shares of the utilities provider’s stock after selling 13,201 shares during the period. First American Bank’s holdings in Public Service Enterprise Group were worth $2,670,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its stake in 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 valued at $28,000 after buying an additional 248 shares during the period. Bayban acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $33,000. Motiv8 Investments LLC bought a new position in Public Service Enterprise Group during the fourth quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Public Service Enterprise Group during the fourth quarter worth about $44,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.6%

NYSE:PEG opened at $81.87 on Thursday. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The stock has a 50-day moving average price of $79.30 and a two-hundred day moving average price of $80.77. The stock has a market cap of $40.80 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.06 and a beta of 0.51. 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 (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. Public Service Enterprise Group’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEG shares. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. Scotiabank reissued a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Truist Financial cut their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% 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. Insiders have sold a total of 6,249 shares of company stock valued at $498,795 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

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.