PNC Financial Services Group Inc. Has $31.41 Million Stake in Public Service Enterprise Group Incorporated $PEG

PNC Financial Services Group Inc. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 49.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 387,957 shares of the utilities provider’s stock after selling 381,838 shares during the period. PNC Financial Services Group Inc.’s holdings in Public Service Enterprise Group were worth $31,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Quest 10 Wealth Builders Inc. grew its position in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares in the last quarter. Bayban bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $33,000. Motiv8 Investments LLC bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $44,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday. Truist Financial raised their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.25.

Insiders Place Their Bets

In related news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.1%

Public Service Enterprise Group stock opened at $79.83 on Friday. The firm has a market cap of $39.78 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.00 and a beta of 0.51. 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 firm has a 50 day moving average price of $79.74 and a two-hundred day moving average price of $80.83.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

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.