Ameriprise Financial Inc. Has $722.55 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Ameriprise Financial Inc. lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,657,207 shares of the utilities provider’s stock after purchasing an additional 648,140 shares during the quarter. Ameriprise Financial Inc. owned 1.73% of Public Service Enterprise Group worth $722,546,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. HM Payson & Co. raised its holdings in Public Service Enterprise Group by 3.3% during the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock worth $313,000 after acquiring an additional 120 shares in the last quarter. Rossby Financial LCC boosted its holdings in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after buying an additional 121 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after buying an additional 125 shares in the last quarter. Finally, Sage Private Wealth Group LLC increased its holdings in Public Service Enterprise Group by 4.9% during the third quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.6%

PEG stock opened at $83.75 on Monday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. The company has a fifty day moving average price of $82.08 and a two-hundred day moving average price of $81.78. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.68 annualized dividend and a yield of 3.2%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s payout ratio is currently 63.51%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Scotiabank reiterated 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 shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $87.50 to $84.50 in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Finally, UBS Group reduced their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.88.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the firm’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 sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the sale, the chief executive officer owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.19% of the company’s stock.

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.