Public Service Enterprise Group Incorporated $PEG Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 296,752 shares of the utilities provider’s stock after acquiring an additional 10,834 shares during the quarter. RWC Asset Management LLP owned 0.06% of Public Service Enterprise Group worth $19,983,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $4,366,570,000. Bank of America Corp DE bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $1,207,400,000. Legal & General Group Plc bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $554,994,000. Bank of New York Mellon Corp purchased a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $221,632,000. Finally, Amundi boosted its holdings in shares of Public Service Enterprise Group by 71.6% in the second quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock worth $321,580,000 after buying an additional 1,653,832 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEG. Jefferies Financial Group reduced their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price target on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $86.07.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded down $0.73 during midday trading on Friday, hitting $71.99. The stock had a trading volume of 2,448,381 shares, compared to its average volume of 4,302,398. The firm’s fifty day moving average is $71.40 and its two-hundred day moving average is $76.55. The company has a market capitalization of $35.88 billion, a PE ratio of 17.91, a P/E/G ratio of 2.73 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 52-week low of $66.15 and a 52-week high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.38 EPS for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the completion of the sale, the chief executive officer owned 279,490 shares of the company’s stock, valued at $18,859,985.20. The trade was a 0.74% decrease in their position. 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 a total of 12,166 shares of company stock worth $896,328 over the last 90 days. Insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.