Assenagon Asset Management S.A. Reduces Position in Public Service Enterprise Group Incorporated $PEG

Assenagon Asset Management S.A. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 92.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,043 shares of the utilities provider’s stock after selling 205,541 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Public Service Enterprise Group were worth $1,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the period. State Street Corp increased its stake in Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares during the period. Bank of America Corp DE raised its holdings in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after buying an additional 236,794 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after buying an additional 114,351 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock worth $722,546,000 after buying an additional 648,140 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the subject of several analyst reports. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Wells Fargo & Company upped their price target 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. Barclays increased their price target on 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. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, Evercore upgraded shares of 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 note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Trading Down 1.0%

Shares of PEG stock opened at $80.33 on Thursday. The business’s fifty day moving average price is $79.36 and its 200 day moving average price is $80.88. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The firm has a market capitalization of $40.03 billion, a PE ratio of 17.77, a P/E/G ratio of 3.05 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

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

Public Service Enterprise Group Announces Dividend

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

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,201 shares of company stock valued at $578,442 in the last quarter. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.