Assenagon Asset Management S.A. Buys 169,753 Shares of Public Service Enterprise Group Incorporated $PEG

Assenagon Asset Management S.A. increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 327.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 221,584 shares of the utilities provider’s stock after buying an additional 169,753 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Public Service Enterprise Group were worth $17,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. HM Payson & Co. boosted its holdings in Public Service Enterprise Group by 3.3% during the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock worth $313,000 after acquiring an additional 120 shares during the last quarter. Rossby Financial LCC lifted its position in shares of Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 121 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares in the last quarter. JPL Wealth Management LLC boosted its holdings in Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after purchasing an additional 122 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Public Service Enterprise Group by 2.6% during the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Scotiabank reiterated a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Barclays boosted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. One 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.88.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction 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 sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale 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 on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the transaction, the chief executive officer directly owned 292,889 shares in the company, valued at $24,503,093.74. This represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.47 on Friday. 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 firm has a market cap of $40.13 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 2.64 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The firm’s 50-day simple moving average is $82.68 and its two-hundred day simple moving average is $81.79.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm earned $0.84 EPS. The company’s revenue was up 18.3% 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, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 63.51%.

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.