Thrivent Financial Slashes Stake in Public Service Enterprise Group by 97.8%

Thrivent Financial for Lutherans significantly reduced its position in Public Service Enterprise Group (PEG) during the third quarter. The institutional investor liquidated over 1 million shares, representing a massive 97.8% decrease in its total holding. Following the sale, Thrivent retains only 24,868 shares in the utility company, valued at approximately $2.08 million. Despite this major sell-off by a single institution, market sentiment for PEG remains generally positive among broader financial analysts. The stock currently holds a 'Moderate Buy' consensus rating with an average price target of $90.96. Furthermore, PEG continues to offer a stable dividend yield of 3.0%, maintaining its appeal within the utilities sector.