Czech National Bank Has $10.27 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Czech National Bank increased its holdings in Public Service Enterprise Group by 6.6% during the second quarter, owning 121,972 shares valued at approximately $10.27 million.
• Public Service Enterprise Group reported an EPS of $0.77 for the last quarter, surpassing analysts' expectations, and its revenue increased by 15.8% year-over-year.
• The company declared a quarterly dividend of $0.63 per share, resulting in an annualized yield of 3.1%, with a payout ratio of 63.64%.

Czech National Bank boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,972 shares of the utilities provider's stock after acquiring an additional 7,538 shares during the period. Czech National Bank's holdings in Public Service Enterprise Group were worth $10,268,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after acquiring an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Public Service Enterprise Group by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after acquiring an additional 162,261 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Public Service Enterprise Group by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock valued at $395,354,000 after acquiring an additional 806,782 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock valued at $385,439,000 after acquiring an additional 230,636 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Public Service Enterprise Group by 15.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock valued at $337,709,000 after acquiring an additional 542,671 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. Morgan Stanley decreased their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Barclays cut their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, UBS Group increased their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.55.

Public Service Enterprise Group Stock Up 0.5%

PEG stock traded up $0.38 during mid-day trading on Friday, reaching $81.57. The company had a trading volume of 4,629,404 shares, compared to its average volume of 2,572,023. 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 stock has a 50 day simple moving average of $84.39 and a two-hundred day simple moving average of $82.09. The company has a market capitalization of $40.71 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.84 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is currently 63.64%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Company 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.