Bank of America Corp DE Has $1.48 Billion Position in Public Service Enterprise Group Incorporated $PEG

Bank of America Corp DE raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,773,378 shares of the utilities provider’s stock after acquiring an additional 236,794 shares during the quarter. Bank of America Corp DE owned about 3.56% of Public Service Enterprise Group worth $1,483,366,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JARISLOWSKY FRASER Ltd lifted its stake in Public Service Enterprise Group by 107.1% in the third quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after buying an additional 530,248 shares during the period. Railway Pension Investments Ltd grew its position in shares of Public Service Enterprise Group by 97.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after buying an additional 937,100 shares during the period. Assetmark Inc. grew its position in shares of Public Service Enterprise Group by 4.6% during the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after buying an additional 38,949 shares during the period. Voya Investment Management LLC increased its stake in shares of Public Service Enterprise Group by 18.2% in the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock valued at $137,155,000 after acquiring an additional 253,810 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock valued at $26,262,000 after acquiring an additional 36,100 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at $2,363,923. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer owned 292,889 shares in the company, valued at approximately $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $87.50 to $84.50 in a report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, UBS Group decreased their price target on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $83.75 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.72 and a beta of 0.60. The business has a 50 day simple moving average of $82.08 and a 200 day simple moving average of $81.78. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm 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 business’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given 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 presently 63.51%.

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.