Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires 6,157 Shares of Public Service Enterprise Group Incorporated $PEG

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 87.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 13,234 shares of the utilities provider’s stock after acquiring an additional 6,157 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Public Service Enterprise Group were worth $1,071,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Bayban bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $33,000. Motiv8 Investments LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $44,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.55 on Friday. The company has a fifty day moving average of $79.48 and a 200-day moving average of $80.90. The firm has a market capitalization of $40.64 billion, a P/E ratio of 18.04, a P/E/G ratio of 3.07 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock worth $746,145 in the last quarter. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PEG shares. Truist Financial lowered their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday. They issued a “sector perform” rating and a $81.00 price target for the company. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $92.32.

Public Service Enterprise Group Company Profile

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.