Insider Sell: Ralph Larossa Sells 4,122 Shares of Public Service Enterprise Group Inc
On November 2, 2023, Ralph Larossa, the Chair, President, and CEO of Public Service Enterprise Group Inc (NYSE:PEG), sold 4,122 shares of the company. This move is part of a series of transactions made by the insider over the past year, which have seen a total of 16,364 shares sold and no shares purchased.
Ralph Larossa is a key figure at Public Service Enterprise Group Inc, a company that operates in the Utilities sector, specifically in the Regulated Electric industry. The company's business involves the generation, transmission, and distribution of electricity as well as the distribution of natural gas in the northeastern and mid Atlantic United States.
The insider's recent sell-off is part of a broader trend within the company. Over the past year, there have been nine insider sells and zero insider buys. This trend could be indicative of the insider's sentiment towards the company's stock and its future prospects.
On the day of the insider's recent sell, shares of Public Service Enterprise Group Inc were trading at $63 apiece, giving the company a market cap of $31.74 billion. The stock's price-earnings ratio stood at 11.34, lower than both the industry median of 14.86 and the company's historical median price-earnings ratio.
According to the GuruFocus Value, which is an intrinsic value estimate based on historical multiples, a GuruFocus adjustment factor, and future business performance estimates, the stock is fairly valued. With a price of $63 and a GuruFocus Value of $64.66, the stock has a price-to-GF-Value ratio of 0.97.
The insider's decision to sell shares could be based on a variety of factors, including personal financial needs or a belief that the stock's current price accurately reflects its value. However, it's important for investors to consider the broader context, including the company's financial health and market conditions, when interpreting insider transactions.
As always, insider transactions should not be used in isolation to make investment decisions, but rather should be used as a piece of a larger investment thesis.
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.
This article first appeared on GuruFocus.
