Public Service Enterprise Group Incorporated $PEG Shares Acquired by Allstate Corp

Allstate Corp grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 100.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,699 shares of the utilities provider’s stock after purchasing an additional 18,359 shares during the period. Allstate Corp’s holdings in Public Service Enterprise Group were worth $2,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PEG. Bank of America Corp DE lifted its stake in shares of Public Service Enterprise Group by 24.7% in 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 purchasing an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. lifted its stake 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 purchasing an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Public Service Enterprise Group by 174.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after purchasing an additional 715,051 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Public Service Enterprise Group by 43.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider’s stock valued at $161,423,000 after purchasing an additional 583,773 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,949 shares of company stock worth $902,747. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. Finally, Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Price Performance

PEG opened at $79.84 on Thursday. The stock’s 50-day moving average price is $80.28 and its 200 day moving average price is $81.19. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 3.01 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business earned $1.43 EPS. Public Service Enterprise Group’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio is presently 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.