Raab & Moskowitz Asset Management LLC Sells 14,497 Shares of Public Service Enterprise Group Incorporated $PEG
by Michael Walen · The Markets DailyRaab & Moskowitz Asset Management LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 61.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,918 shares of the utilities provider’s stock after selling 14,497 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Public Service Enterprise Group were worth $716,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth $38,000. Finally, CGC Financial Services LLC raised its position in shares of Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 258 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction that occurred 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 $2,363,923. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total value of $169,222.92. Following the completion of the sale, the chief executive officer directly owned 291,398 shares in the company, valued at approximately $23,673,173.52. The trade was a 0.71% decrease in their position. 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 three months, insiders have sold 8,866 shares of company stock valued at $733,587. 0.19% of the stock is owned by corporate insiders.
Public Service Enterprise Group Stock Performance
PEG opened at $81.79 on Friday. The stock has a market capitalization of $40.79 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.66 and a beta of 0.58. The company has a fifty day moving average of $82.93 and a 200 day moving average of $81.77. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two 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.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.
Public Service Enterprise Group Increases Dividend
The company 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 is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.51%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. UBS Group lowered their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.88.
Check Out Our Latest Stock Report on Public Service Enterprise Group
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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