iA Global Asset Management Inc. Acquires 23,374 Shares of Public Service Enterprise Group Incorporated $PEG

iA Global Asset Management Inc. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1,280.8% during the first quarter, HoldingsChannel reports. The firm owned 25,199 shares of the utilities provider’s stock after purchasing an additional 23,374 shares during the period. iA Global Asset Management Inc.’s holdings in Public Service Enterprise Group were worth $2,040,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. raised its stake in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares in the last quarter. Bayban bought a new position in Public Service Enterprise Group in the fourth quarter worth approximately $33,000. Motiv8 Investments LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $44,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $81.55 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The business’s fifty day simple moving average is $79.42 and its 200-day simple moving average is $80.89. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a market cap of $40.64 billion, a PE ratio of 18.04, a PEG ratio of 3.02 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the firm earned $1.43 EPS. The business’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. Analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.67 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Insider Activity

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’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 sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,284 shares of company stock valued at $746,145. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial dropped 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 report on Monday, May 18th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Barclays raised their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. lifted 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. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.32.

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.