Vestcor Inc Has $2.65 Million Stake in Public Service Enterprise Group Incorporated $PEG

Vestcor Inc decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,033 shares of the utilities provider’s stock after selling 22,330 shares during the quarter. Vestcor Inc’s holdings in Public Service Enterprise Group were worth $2,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEG. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $552,280,000. Bank of America Corp DE raised its stake in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the period. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Public Service Enterprise Group by 174.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after acquiring an additional 1,788,449 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after acquiring an additional 715,051 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock worth $498,795 in the last three months. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.0%

Public Service Enterprise Group stock opened at $79.48 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market capitalization of $39.61 billion, a P/E ratio of 17.58, a PEG ratio of 2.99 and a beta of 0.51. The stock has a 50-day simple moving average of $79.80 and a 200 day simple moving average of $80.96.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company posted $1.43 earnings per share. Public Service Enterprise Group’s quarterly revenue 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. Analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays raised their price objective 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. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, BMO Capital Markets raised their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

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.