AE Wealth Management LLC Acquires 8,923 Shares of Public Service Enterprise Group Incorporated $PEG

AE Wealth Management LLC boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 180,783 shares of the utilities provider’s stock after acquiring an additional 8,923 shares during the quarter. AE Wealth Management LLC’s holdings in Public Service Enterprise Group were worth $14,517,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PEG. Empowered Funds LLC lifted its position in Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP lifted its position in Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after acquiring an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its position in Public Service Enterprise Group by 27.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after acquiring an additional 1,040 shares in the last quarter. Jump Financial LLC lifted its position in Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after acquiring an additional 5,250 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after acquiring an additional 1,649 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total value of $169,222.92. Following the transaction, the chief executive officer owned 291,398 shares in the company, valued at $23,673,173.52. This trade represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 8,866 shares of company stock worth $733,587. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on PEG. Barclays increased their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Wells Fargo & Company increased their price objective on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group lowered shares of 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 research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.42.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.60 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $76.00 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The company has a market capitalization of $40.70 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.67 and a beta of 0.58. The company has a fifty day moving average of $83.19 and a 200-day moving average of $81.80.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio is 63.51%.

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.