Eurizon Capital SGR S.p.A. Invests $18.87 Million in Public Service Enterprise Group Incorporated $PEG

Eurizon Capital SGR S.p.A. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 234,825 shares of the utilities provider’s stock, valued at approximately $18,866,000.

A number of other institutional investors also recently made changes to their positions in PEG. Empowered Funds LLC boosted its holdings in shares of Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after acquiring an additional 940 shares during the period. Woodline Partners LP boosted its holdings in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after acquiring an additional 12,172 shares during the period. Cresset Asset Management LLC boosted its holdings in shares of Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 1,040 shares during the period. Jump Financial LLC boosted its holdings in shares of Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 10,949 shares of company stock valued at $902,747. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEG. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. Scotiabank restated a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Truist Financial reduced their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Trading Down 0.1%

Shares of PEG stock opened at $78.55 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market cap of $39.14 billion, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. The stock has a 50 day simple moving average of $80.05 and a 200 day simple moving average of $81.13. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25.

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 (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous 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. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

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.