Sei Investments Co. Raises Stock Position in Public Service Enterprise Group Incorporated $PEG

Sei Investments Co. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,375 shares of the utilities provider’s stock after acquiring an additional 12,484 shares during the period. Sei Investments Co.’s holdings in Public Service Enterprise Group were worth $14,602,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares during the period. State Street Corp raised its position in Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $1,476,230,000 after buying an additional 3,469,886 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after buying an additional 114,351 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after buying an additional 715,051 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEG. BMO Capital Markets raised their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial increased their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group reduced their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Trading Down 0.3%

NYSE:PEG opened at $77.52 on Friday. The stock has a market capitalization of $38.63 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 2.93 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The firm has a 50 day moving average of $79.79 and a 200 day moving average of $80.85.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is 59.29%.

Insider Activity

In related news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,201 shares of company stock worth $576,984 over the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

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.