Swiss National Bank Boosts Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Swiss National Bank boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,464,900 shares of the utilities provider’s stock after acquiring an additional 97,100 shares during the quarter. Swiss National Bank’s holdings in Public Service Enterprise Group were worth $118,584,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Quest 10 Wealth Builders Inc. boosted its position in 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 acquiring an additional 248 shares during the last quarter. Bayban purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $33,000. Motiv8 Investments LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Public Service Enterprise Group in the 4th quarter valued at about $44,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of analyst reports. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective on the stock. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Truist Financial raised their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group lowered their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.68.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This trade represents 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. In the last three months, insiders have sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Down 1.0%

Shares of PEG opened at $77.85 on Tuesday. The company’s 50-day simple moving average is $79.61 and its 200-day simple moving average is $80.88. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The stock has a market capitalization of $38.80 billion, a PE ratio of 17.22, a P/E/G ratio of 2.96 and a beta of 0.51.

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 firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

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.