Russell Investments Group Ltd. Has $94.99 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Russell Investments Group Ltd. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,138,198 shares of the utilities provider’s stock after purchasing an additional 237,286 shares during the period. Russell Investments Group Ltd.’s holdings in Public Service Enterprise Group were worth $94,992,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter valued at $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in Public Service Enterprise Group during the 3rd quarter worth $38,000. Finally, CGC Financial Services LLC grew its position in Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares in the company, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 0.8%

Shares of NYSE:PEG opened at $84.06 on Tuesday. The firm has a market cap of $41.92 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.71 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25. The business has a fifty day simple moving average of $81.89 and a 200 day simple moving average of $81.79. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $0.67 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is presently 59.72%.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research reports. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $92.73.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.