IFM Investors Pty Ltd Sells 29,408 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• IFM Investors Pty Ltd has decreased its holdings in Public Service Enterprise Group by 16.8%, selling 29,408 shares during the first quarter, leaving it with 145,440 shares valued at approximately $11.97 million.
• Several institutional investors, including Vanguard Group and Assenagon Asset Management, have notably increased their stakes in the company, reflecting a growing interest in Public Service Enterprise Group among hedge funds.
• The company announced a quarterly dividend of $0.63 per share, with an annualized yield of 3.1%, indicating ongoing shareholder returns despite recent fluctuations in stock ratings.

IFM Investors Pty Ltd reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,440 shares of the utilities provider's stock after selling 29,408 shares during the quarter. IFM Investors Pty Ltd's holdings in Public Service Enterprise Group were worth $11,970,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC grew its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC grew its stake in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after buying an additional 361 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling 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 directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

PEG has been the subject of several analyst reports. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Barclays cut their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. UBS Group raised their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, BMO Capital Markets raised their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.71 during midday trading on Friday, reaching $82.74. 1,703,010 shares of the stock were exchanged, compared to its average volume of 2,608,096. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.29 billion, a P/E ratio of 20.89, a PEG ratio of 2.85 and a beta of 0.50. The stock's 50 day simple moving average is $84.45 and its 200 day simple moving average is $82.09.

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

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

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.