Crispr Therapeutics shares tumble after significant earnings miss
Public Service Enterprise Group Inc. (NYSE:PEG), a $41.6 billion utility company with a FAIR financial health rating according to InvestingPro, saw its Chair, President, and CEO Ralph A. LaRossa sell a portion of his common stock holdings, according to a recent SEC filing. On April 1, LaRossa disposed of 1,378 shares, with the transaction valued at approximately $114,212. The shares were sold at a weighted average price of $82.88, with the actual sale prices ranging between $82.12 and $83.27. Following this transaction, LaRossa retains ownership of approximately 221,670 shares in the company. The stock, which currently trades at $83.46, has demonstrated strong performance with a 29% return over the past year. Notably, PEG has maintained dividend payments for 55 consecutive years, with a current yield of 3%. For detailed analysis and additional insights, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Public Service Enterprise Group Inc. (PSEG) reported its fourth-quarter 2024 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.84, slightly above the forecast of $0.83. The company also reported revenues of $2.46 billion, exceeding the anticipated $2.19 billion. Despite these positive results, Ladenburg Thalmann downgraded PSEG’s stock from Buy to Neutral due to revised earnings projections for the coming years. Ladenburg Thalmann’s analysis led to a lower EPS estimate for 2025 to 2027, driven by anticipated decreases in return levels at PSEG’s subsidiary, Public Service Electric and Gas Company. Jefferies also adjusted its price target for PSEG, lowering it from $83.00 to $80.00 while maintaining a Hold rating on the stock. In a significant financial move, PSEG completed a $1 billion public offering of senior notes, comprising $600 million of 4.900% Senior Notes due 2030 and $400 million of 5.400% Senior Notes due 2035. These developments reflect ongoing evaluations and strategic decisions impacting PSEG’s financial landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.