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

Key Points

• Aviva PLC increased its stake in Public Service Enterprise Group by 8.3% in the fourth quarter, buying 91,703 additional shares and bringing its total holding to 1,191,124 shares worth about $95.6 million.
• PEG reported better-than-expected quarterly results, posting EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% from a year earlier. The company also reaffirmed FY 2026 EPS guidance of 4.280-4.400.
• The company declared a quarterly dividend of $0.67 per share, payable June 30, which annualizes to $2.68 and implies a 3.4% yield. Meanwhile, analysts currently rate the stock a “Moderate Buy” with an average target price of $93.19.

Aviva PLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,191,124 shares of the utilities provider's stock after acquiring an additional 91,703 shares during the quarter. Aviva PLC owned approximately 0.24% of Public Service Enterprise Group worth $95,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. Norges Bank bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $552,280,000. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA raised its holdings in Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock valued at $225,704,000 after acquiring an additional 1,788,449 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Public Service Enterprise Group by 9.8% during the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock valued at $674,218,000 after acquiring an additional 715,051 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Up 0.3%

Shares of PEG stock opened at $78.80 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. 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 stock's 50-day moving average price is $79.60 and its 200-day moving average price is $80.87. The stock has a market capitalization of $39.27 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $1.43 earnings per share. The business's revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares of the company's stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,249 shares of company stock valued at $498,795 over the last quarter. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on PEG. JPMorgan Chase & Co. raised their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. BMO Capital Markets raised their price target on 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. Scotiabank reissued a "sector perform" rating and set a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Jefferies Financial Group cut Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $93.19.

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.

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