Insider Selling: Public Service Enterprise Group (NYSE:PEG) CEO Sells $140,560.84 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the completion of the sale, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at $18,859,985.20. The trade was a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Price Performance

PEG traded up $0.12 during trading on Friday, reaching $68.02. The stock had a trading volume of 2,228,319 shares, compared to its average volume of 2,957,683. The stock has a 50 day moving average of $73.24 and a two-hundred day moving average of $77.73. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $33.90 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1-year low of $66.15 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s revenue was down 8.9% 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 anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th were given a $0.67 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.9%. Public Service Enterprise Group’s payout ratio is 66.67%.

Institutional Trading of Public Service Enterprise Group

Institutional investors have recently made changes to their positions in the stock. Entropy Technologies LP lifted its position in Public Service Enterprise Group by 115.6% in the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after buying an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC boosted its position in Public Service Enterprise Group by 26.3% during the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after purchasing an additional 14,406 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its position in Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,756,000 after purchasing an additional 12,468 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Public Service Enterprise Group by 120.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after purchasing an additional 34,415 shares in the last quarter. Finally, Commerce Bank acquired a new position in Public Service Enterprise Group in the 2nd quarter worth about $3,934,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Citigroup dropped their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Jefferies Financial Group reduced 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 research report on Monday, July 20th. Finally, Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.23.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Founded in 1903, the company operates primarily through its regulated utility subsidiary, Public Service Electric and Gas Company (PSE&G), and its competitive energy businesses.

PSE&G is New Jersey’s largest electric and gas utility, providing electricity and natural gas delivery, transmission, distribution, and related customer services to residential, commercial, and industrial customers across the state.