Investors following the latest movements of PUBLIC SERVICE ENTERPRISE GROUP INC (NYSE:PEG) might be interested to learn that the company’s CEO, Ralph A. LaRossa, has recently sold shares of the company’s common stock. On April 1, 2024, LaRossa sold 1,374 shares at a weighted average price of $66.3694, totaling approximately $91,191.

The sale was made public through a Form 4 filing with the Securities and Exchange Commission, which detailed the transaction. According to the filing, the shares sold by LaRossa were priced within a range of $65.90 to $66.56. This range represents the weighted average price of the shares sold, as noted in the footnotes of the SEC filing.

Following the transaction, LaRossa still holds a significant number of shares in PUBLIC SERVICE ENTERPRISE GROUP INC, with his ownership standing at 152,347.2833 shares after the sale. This indicates that despite the recent sale, the CEO maintains a substantial stake in the company.

The transaction comes amid the regular financial disclosures required by executives and insiders of publicly traded companies. These sales and purchases of company stock are closely watched by investors as they can provide insights into the confidence levels of a company’s management in the firm’s prospects.

PUBLIC SERVICE ENTERPRISE GROUP INC, with its trading symbol PEG, is known for providing electric and other services. The company is incorporated in New Jersey, with its corporate accounting services located at 80 Park Plaza, Newark.

For those interested in the specifics of the transaction or in obtaining full share price information, the reporting person has committed to providing such details upon request, as indicated in the SEC filing.

The sale by CEO Ralph LaRossa is part of the regular financial disclosures and should be viewed within the context of his ongoing investment in PUBLIC SERVICE ENTERPRISE GROUP INC.

InvestingPro Insights

The recent share sale by PUBLIC SERVICE ENTERPRISE GROUP INC’s (NYSE:PEG) CEO, Ralph A. LaRossa, coincides with the company’s stock trading near its 52-week high, according to real-time data from InvestingPro. With a price close to $66.64, the stock is at 99.43% of its 52-week high, potentially indicating LaRossa’s move to capitalize on the current share price strength.

InvestingPro data also shows a healthy dividend yield of 3.6% as of the last measurement, which could be attractive to income-focused investors. Moreover, the company has demonstrated a commitment to shareholder returns, having raised its dividend for 12 consecutive years, an InvestingPro Tip that suggests a stable financial footing and a potentially reliable income stream for investors. Additionally, the company is trading at a low earnings multiple with a P/E ratio of 13, hinting at a valuation that could be appealing to value investors.

For investors seeking a deeper dive into PUBLIC SERVICE ENTERPRISE GROUP INC’s financial health and future prospects, more InvestingPro Tips are available, including insights on revenue growth, earnings expectations, and asset liquidity. In total, there are 9 additional InvestingPro Tips that can be accessed for this company, offering a comprehensive analysis for informed investment decisions. Interested readers can take advantage of these insights and more by visiting https://www.investing.com/pro/PEG and using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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