Vise Technologies Inc. Acquires Shares of 14,231 Public Service Enterprise Group Incorporated $PEG

Vise Technologies Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel reports. The fund purchased 14,231 shares of the utilities provider’s stock, valued at approximately $1,155,000.

Other institutional investors have also recently modified their holdings of the company. Simplicity Wealth LLC raised its position in Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 129 shares in the last quarter. Westfuller Advisors LLC boosted its position in shares of Public Service Enterprise Group by 7.3% during the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 129 shares in the last quarter. Key Financial Inc grew its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 133 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Public Service Enterprise Group by 4.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 134 shares during the period. Finally, CFS Investment Advisory Services LLC increased its holdings in shares of Public Service Enterprise Group by 1.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after purchasing an additional 138 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 17,284 shares of company stock valued at $1,332,751. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $72.71 on Friday. The firm has a market cap of $36.24 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company’s 50-day moving average is $78.72 and its two-hundred day moving average is $80.37. Public Service Enterprise Group Incorporated has a 12-month low of $72.60 and a 12-month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Jefferies Financial Group reduced 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, July 20th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Truist Financial reduced their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Finally, Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.43.

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.