Vice President and Controller of Public Service Enterprise Group Inc (NYSE:PEG), Rose M. Chernick, has sold a portion of her company stock, according to the latest SEC filings. The transaction, which took place on March 21, 2024, involved the sale of 200 shares at a price of $64.20 each, totaling over $12,840 in value.
This sale has adjusted Chernick's direct holdings in the company to 34,716.2032 shares of common stock. Additionally, she indirectly owns 2,445.8532 shares through a 401(k) plan, as indicated in the filing.
Investors often monitor insider transactions as they can provide insights into the executive's confidence in the company's current status and future prospects. The trade was executed at a single price point, simplifying the valuation of the transaction.
Public Service Enterprise Group, with its headquarters in Newark, New Jersey, operates in the combined electric and other services industry. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol PEG.
The SEC filing was signed by Isabel Ryan as Attorney-in-fact for Rose M. Chernick on March 22, 2024. It's important for investors to note that such filings indicate the transactions made by company insiders, which can include buys, sells, and option exercises. However, the reasons behind these transactions can vary and may not necessarily directly relate to the company's performance or outlook.
InvestingPro Insights
Public Service Enterprise Group Inc (NYSE:PEG) has recently seen insider activity that could pique the interest of investors. As we delve into the company's financial health and market performance, several metrics and InvestingPro Tips shed light on the current situation.
With a market capitalization of $32.48 billion and a P/E ratio of 12.57, PEG presents itself as a company with a moderate valuation. The adjusted P/E ratio for the last twelve months as of Q4 2023 stands slightly higher at 13.34. This data suggests a stable earnings outlook relative to the company's share price.
InvestingPro Tips for PEG highlight that the company has a history of consistent dividend payments, having raised its dividend for 12 consecutive years. Additionally, two analysts have revised their earnings estimates upwards for the upcoming period, which could signal confidence in PEG's financial future. These insights are particularly relevant for dividend investors and those looking for signs of positive earnings momentum.
Another noteworthy point is PEG's dividend yield, which as of the latest data, stands at 3.76%. This, combined with an 11.11% dividend growth over the last twelve months, may appeal to income-focused investors. Furthermore, the company is trading near its 52-week high, with the price at 97.33% of this peak, indicating strong recent performance in the stock market.
For those interested in further analysis and additional InvestingPro Tips for Public Service Enterprise Group Inc, visit InvestingPro. There are currently 9 additional tips available, which can be accessed with a subscription. Take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.