BI Asset Management Fondsmaeglerselskab A S Has $837,000 Stake in Public Service Enterprise Group Incorporated $PEG

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,344 shares of the utilities provider’s stock after selling 8,575 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Service Enterprise Group were worth $837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PEG. Vanguard Group Inc. increased its holdings in 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 buying an additional 2,189,951 shares during the period. State Street Corp lifted its holdings in shares of Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock worth $2,277,404,000 after acquiring an additional 762,591 shares during the period. Bank of America Corp DE lifted its holdings in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock worth $1,483,366,000 after acquiring an additional 236,794 shares during the period. Geode Capital Management LLC boosted its position in shares of Public Service Enterprise Group by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 8.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after purchasing an additional 648,140 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction 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. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,249 shares of company stock worth $498,795. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.87 on Thursday. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a market capitalization of $40.80 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 3.06 and a beta of 0.51. The business has a 50-day moving average of $79.30 and a 200-day moving average of $80.77.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business 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 dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PEG shares. Barclays raised their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Wells Fargo & Company lifted their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial reduced their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, BMO Capital Markets boosted 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. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $93.19.

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.