ABN Amro Investment Solutions Trims Stake in Public Service Enterprise Group Incorporated $PEG

ABN Amro Investment Solutions reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 38.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,847 shares of the utilities provider’s stock after selling 16,410 shares during the quarter. ABN Amro Investment Solutions’ holdings in Public Service Enterprise Group were worth $2,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Oslo Pensjonsforsikring AS purchased a new position in Public Service Enterprise Group in the 1st quarter worth approximately $240,000. Glenview Trust Co boosted its stake in Public Service Enterprise Group by 3.0% during the first quarter. Glenview Trust Co now owns 226,167 shares of the utilities provider’s stock worth $18,308,000 after buying an additional 6,614 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Public Service Enterprise Group by 3.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 18,710 shares of the utilities provider’s stock worth $1,515,000 after acquiring an additional 592 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Public Service Enterprise Group by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,859,362 shares of the utilities provider’s stock valued at $150,528,000 after purchasing an additional 25,864 shares during the period. Finally, Scarborough Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $437,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the 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 $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. Over the last ninety days, insiders sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PEG shares. Truist Financial lifted their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Wednesday. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Finally, Jefferies Financial Group lowered their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.25.

Public Service Enterprise Group Stock Up 0.1%

Public Service Enterprise Group stock opened at $79.83 on Friday. The company has a market capitalization of $39.78 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The firm has a 50 day moving average price of $79.74 and a 200 day moving average price of $80.83.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The firm’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. Research 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 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.