Royal London Asset Management Ltd. Has $70.59 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Royal London Asset Management Ltd. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 869,748 shares of the utilities provider’s stock after acquiring an additional 9,493 shares during the quarter. Royal London Asset Management Ltd. owned 0.17% of Public Service Enterprise Group worth $70,589,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Entropy Technologies LP increased its stake in shares of Public Service Enterprise Group by 115.6% in the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after purchasing an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after buying an additional 14,406 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in shares of Public Service Enterprise Group by 120.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after buying an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in Public Service Enterprise Group by 135.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock worth $1,756,000 after buying an additional 12,468 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Public Service Enterprise Group by 38.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after buying an additional 536,363 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PEG shares. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Jefferies Financial Group reduced their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective on the stock. Finally, Truist Financial cut their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.43.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 17,284 shares of company stock worth $1,332,751. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

Public Service Enterprise Group stock opened at $73.07 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63. The stock has a market cap of $36.42 billion, a P/E ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. The firm’s fifty day moving average price is $78.06 and its 200-day moving average price is $80.12.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

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.