Assenagon Asset Management S.A. Has $17.79 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Assenagon Asset Management S.A. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 327.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 221,584 shares of the utilities provider’s stock after acquiring an additional 169,753 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Public Service Enterprise Group were worth $17,793,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Bank of America Corp DE grew its holdings in Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Invesco Ltd. increased its position in Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after buying an additional 1,408,707 shares during the period. Railway Pension Investments Ltd lifted its holdings in shares of Public Service Enterprise Group by 97.5% during the third 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 in the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $61,174,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7%

PEG opened at $80.47 on Friday. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 2.64 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a 50-day simple moving average of $82.68 and a 200 day simple moving average of $81.79.

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

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.51%.

Wall Street Analysts Forecast Growth

PEG has been the topic of several research reports. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Evercore raised shares of 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. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. UBS Group lowered their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Finally, Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the transaction, the chief executive officer owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction on 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 approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company 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.