Amundi Sells 102,413 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Amundi reduced its Public Service Enterprise Group stake by 4.2%, selling 102,413 shares in the first quarter but retaining 2.31 million shares valued at approximately $186.9 million. Institutional investors collectively own 73.34% of PEG.
• Analysts maintain a generally positive view, with PEG carrying a consensus “Moderate Buy” rating and an average price target of $91.25, despite several recent target revisions.
• PEG exceeded quarterly earnings expectations, reporting $1.55 EPS versus a $1.44 estimate and $3.85 billion in revenue. The company also declared a quarterly dividend of $0.67 per share, representing a 3.5% annualized yield.

Amundi lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,308,485 shares of the utilities provider's stock after selling 102,413 shares during the quarter. Amundi owned 0.46% of Public Service Enterprise Group worth $186,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PEG. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. boosted its holdings 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 valued at $28,000 after acquiring an additional 248 shares during the last quarter. Bayban acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $33,000. Motiv8 Investments LLC acquired a new stake in Public Service Enterprise Group during the 4th quarter valued at approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Public Service Enterprise Group during the 4th quarter worth approximately $44,000. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target 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. Truist Financial increased their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. 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. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 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 report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus target price of $91.25.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the firm's stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $576,984 in the last quarter. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.3%

Shares of NYSE PEG opened at $77.52 on Friday. 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 market cap of $38.63 billion, a PE ratio of 17.15, a P/E/G ratio of 2.93 and a beta of 0.51. The company's fifty day simple moving average is $79.79 and its 200 day simple moving average is $80.85. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate 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 was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $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 forecast 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 will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 59.29%.

Public Service Enterprise Group Company 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.

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