California Public Employees Retirement System lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 9.0% in the first quarter, Holdings Channel.com reports. The fund owned 1,269,111 shares of the utilities provider’s stock after selling 124,842 shares during the period. California Public Employees Retirement System’s holdings in Public Service Enterprise Group were worth $102,735,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEG. Empowered Funds LLC boosted its holdings in Public Service Enterprise Group by 10.3% in the first 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 raised its holdings 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 worth $3,464,000 after purchasing an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of 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 worth $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC lifted its position in shares of 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 worth $1,070,000 after purchasing an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after purchasing an additional 1,649 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.
Insider Buying and Selling
In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the sale, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock valued at $746,145 in the last ninety days. Insiders own 0.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on PEG
Public Service Enterprise Group Stock Down 1.2%
NYSE:PEG opened at $78.58 on Friday. The firm’s 50-day moving average price is $79.60 and its 200-day moving average price is $80.90. The company has a market capitalization of $39.16 billion, a PE ratio of 17.38, a P/E/G ratio of 2.96 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business earned $1.43 EPS. Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.
Public Service Enterprise Group Profile
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.
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