Assenagon Asset Management S.A. Has $4.33 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Assenagon Asset Management S.A. trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 90.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 51,831 shares of the utilities provider’s stock after selling 500,357 shares during the period. Assenagon Asset Management S.A.’s holdings in Public Service Enterprise Group were worth $4,326,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Public Service Enterprise Group by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after purchasing an additional 13,540 shares during the last quarter. Norges Bank bought a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $564,238,000. Janney Montgomery Scott LLC raised its stake in shares of Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after buying an additional 1,652 shares during the last quarter. Magellan Asset Management Ltd lifted its holdings in Public Service Enterprise Group by 9.8% in the second quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock valued at $29,815,000 after buying an additional 31,486 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. bought a new position in Public Service Enterprise Group in the second quarter valued at approximately $61,174,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PEG. JPMorgan Chase & Co. lowered their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. TD Cowen upped their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 15th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.06 on Monday. The stock’s fifty day simple moving average is $81.75 and its 200 day simple moving average is $82.70. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $39.96 billion, a PE ratio of 19.24, a PEG ratio of 2.44 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. The company’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is presently 60.58%.

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.