Amundi Has $321.58 Million Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Amundi increased its Public Service Enterprise Group stake by 71.6% in the second quarter, acquiring 1.65 million additional shares. Its 3.96 million shares were valued at $321.58 million, while institutional investors collectively owned 73.34% of PEG.
• PEG beat quarterly earnings expectations with $0.86 EPS versus the $0.80 consensus, but revenue fell 8.9% year over year to $2.55 billion. The company maintained fiscal 2026 EPS guidance of $4.28–$4.40.
• The company declared a quarterly dividend of $0.67 per share, equivalent to a $2.68 annualized payout and a 3.6% yield. Analysts’ average rating was “Hold,” with an average price target of $89.43, while insiders sold more than $1.17 million of stock over the past three months.

Amundi raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 71.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,962,317 shares of the utilities provider's stock after purchasing an additional 1,653,832 shares during the quarter. Amundi owned 0.79% of Public Service Enterprise Group worth $321,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock worth $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP lifted its position in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock valued at $3,464,000 after purchasing an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock valued at $405,000 after purchasing an additional 1,040 shares in the last quarter. Jump Financial LLC boosted its holdings in Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock worth $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock worth $4,785,000 after purchasing an additional 1,649 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $73.57 on Tuesday. The firm's 50 day moving average is $77.04 and its 200 day moving average is $79.62. The stock has a market capitalization of $36.67 billion, a P/E ratio of 18.30, a PEG ratio of 2.78 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business earned $0.77 EPS. Public Service Enterprise Group's revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group's payout ratio is 66.67%.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares of the company's stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th. Truist Financial reduced their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating for the company in a report on Thursday, August 13th. Finally, Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $89.43.

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.

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