Groupama Asset Managment Sells 11,626 Shares of Public Service Enterprise Group Incorporated $PEG

Groupama Asset Managment decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,824 shares of the utilities provider’s stock after selling 11,626 shares during the period. Groupama Asset Managment’s holdings in Public Service Enterprise Group were worth $1,154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $564,238,000. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Invesco Ltd. raised its holdings in Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after acquiring an additional 1,408,707 shares during the period. Railway Pension Investments Ltd lifted its position in shares of Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth $61,174,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of several recent research reports. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. UBS Group dropped their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $79.53 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The stock has a market cap of $39.66 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 2.69 and a beta of 0.60. The firm’s fifty day moving average price is $82.56 and its 200-day moving average price is $81.82.

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

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.51%.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by corporate insiders.

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.