65,609 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC purchased 65,609 shares of Public Service Enterprise Group, amounting to approximately $5.4 million, making it the investment firm’s 28th largest holding.
• Public Service Enterprise Group recently reported an earnings per share (EPS) of $0.77 for the last quarter, exceeding analyst expectations, with revenues increasing by 15.8% year-over-year.
• The company declared a quarterly dividend of $0.63 per share, with a dividend yield of 3.0%, to be paid on September 30th.

Campbell & CO Investment Adviser LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 65,609 shares of the utilities provider's stock, valued at approximately $5,400,000. Public Service Enterprise Group comprises 0.4% of Campbell & CO Investment Adviser LLC's investment portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $25,000. REAP Financial Group LLC lifted its holdings in shares of Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $32,000. Optiver Holding B.V. purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $50,000. Finally, Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group in the 1st quarter valued at about $50,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Guggenheim dropped their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley dropped their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Evercore ISI dropped their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, BMO Capital Markets boosted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Public Service Enterprise Group Stock Performance

NYSE PEG traded down $0.57 on Wednesday, hitting $82.90. 2,546,873 shares of the company's stock were exchanged, compared to its average volume of 2,811,061. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm's 50-day moving average price is $84.67 and its two-hundred day moving average price is $82.29. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.90 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is presently 63.64%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.