Aviva PLC Buys 91,703 Shares of Public Service Enterprise Group Incorporated $PEG

Aviva PLC raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,191,124 shares of the utilities provider’s stock after acquiring an additional 91,703 shares during the period. Aviva PLC’s holdings in Public Service Enterprise Group were worth $95,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Mosley Wealth Management bought a new position in Public Service Enterprise Group during the fourth quarter valued at $670,000. Fox Hill Wealth Management increased its position in Public Service Enterprise Group by 8.0% during the fourth quarter. Fox Hill Wealth Management now owns 23,005 shares of the utilities provider’s stock valued at $1,847,000 after acquiring an additional 1,700 shares during the last quarter. Xponance LLC increased its position in Public Service Enterprise Group by 6.1% during the fourth quarter. Xponance LLC now owns 83,316 shares of the utilities provider’s stock valued at $6,690,000 after acquiring an additional 4,782 shares during the last quarter. Empowered Funds LLC increased its position in Public Service Enterprise Group by 6.4% during the fourth quarter. Empowered Funds LLC now owns 18,712 shares of the utilities provider’s stock valued at $1,503,000 after acquiring an additional 1,130 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its position in Public Service Enterprise Group by 45.4% during the fourth quarter. Meeder Advisory Services Inc. now owns 29,371 shares of the utilities provider’s stock valued at $2,358,000 after acquiring an additional 9,168 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock valued at $498,795 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PEG shares. Wells Fargo & Company upped their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial cut their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. JPMorgan Chase & Co. upped their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. BMO Capital Markets upped their target price 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. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Trading Up 0.3%

PEG opened at $78.80 on Friday. The stock has a market cap of $39.27 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.96 and a beta of 0.51. The stock’s 50 day moving average price is $79.60 and its 200-day moving average price is $80.87. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio is 59.29%.

Public Service Enterprise Group 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.