Public Service Enterprise Group Inc (NYSE:PEG), a diversified energy company, has experienced a recent insider transaction. According to a SEC Filing dated February 29, 2024, Ralph Larossa, the Chair, President and CEO of the company, sold 2,748 shares of Public Service Enterprise Group Inc.
The transaction took place at a price of $63.02 per share, which resulted in a total sale amount of $173,165.96. Following this transaction, the insider's total holding in the company has been adjusted accordingly.
Public Service Enterprise Group Inc is primarily engaged in the transmission and distribution of electricity and natural gas to customers in New Jersey. The company operates through its subsidiaries, including Public Service Electric and Gas Company (PSE&G), PSEG Power, and others, providing a range of energy-related products and services.
Over the past year, Ralph Larossa has sold a total of 20,486 shares of Public Service Enterprise Group Inc and has not made any purchases of the stock. This latest sale continues a trend of insider selling at the company, with a total of 14 insider sells and no insider buys occurring over the past year.
The market capitalization of Public Service Enterprise Group Inc stands at $31.03 billion, with the stock trading at $63.02 on the day of the insider's recent sale. The company's price-earnings ratio is 12.15, which is lower than the industry median of 14.39 and also below the company's historical median price-earnings ratio.
According to the GF Value, with a price of $63.02 and a GuruFocus Value of $70.35, Public Service Enterprise Group Inc has a price-to-GF-Value ratio of 0.9, indicating that the stock is modestly undervalued.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
The insider's recent sale may provide investors with an insight into the insider's perspective on the stock's valuation, although it is important to consider a wide range of factors when evaluating the potential investment in Public Service Enterprise Group Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
