Bollard Group LLC Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

Bollard Group LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 409,924 shares of the utilities provider’s stock after purchasing an additional 23,077 shares during the quarter. Public Service Enterprise Group accounts for approximately 0.8% of Bollard Group LLC’s holdings, making the stock its 17th biggest position. Bollard Group LLC’s holdings in Public Service Enterprise Group were worth $34,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Clark Capital Management Group Inc. raised its stake in Public Service Enterprise Group by 27.8% in the third quarter. Clark Capital Management Group Inc. now owns 3,590 shares of the utilities provider’s stock worth $300,000 after buying an additional 780 shares in the last quarter. Ausdal Financial Partners Inc. boosted its position in Public Service Enterprise Group by 16.9% during the 3rd quarter. Ausdal Financial Partners Inc. now owns 3,999 shares of the utilities provider’s stock valued at $334,000 after acquiring an additional 579 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of Public Service Enterprise Group by 37.7% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,616 shares of the utilities provider’s stock worth $1,220,000 after acquiring an additional 4,002 shares during the period. Bank of America Corp DE raised its position in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock worth $1,483,366,000 after acquiring an additional 236,794 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its position in shares of Public Service Enterprise Group by 116.0% in the 3rd quarter. Boothbay Fund Management LLC now owns 5,435 shares of the utilities provider’s stock worth $454,000 after acquiring an additional 2,919 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. UBS Group lowered their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $87.50 to $84.50 in a report 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 stock a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group Stock Up 1.6%

Public Service Enterprise Group stock opened at $83.75 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The stock has a fifty day simple moving average of $82.08 and a two-hundred day simple moving average of $81.79. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The firm has a market cap of $41.77 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.73 and a beta of 0.60.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. The ex-dividend date 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 dividend payout ratio (DPR) is currently 63.51%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value 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. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the transaction, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at $24,503,093.74. The trade was a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.