Ilmarinen Mutual Pension Insurance Co Sells 13,000 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Ilmarinen Mutual Pension Insurance Co sold 13,000 shares of Public Service Enterprise Group, reducing its holdings by 14.9% to 74,000 shares worth approximately $6.09 million.
• Several institutional investors, including Vanguard Group Inc. and UBS AM, increased their stakes in the company during the same quarter, contributing to a total institutional ownership of 73.34%.
• Public Service Enterprise Group reported strong quarterly earnings, with earnings per share of $0.77, surpassing estimates, and announced a quarterly dividend of $0.63 per share with a yield of 3.1%.

Ilmarinen Mutual Pension Insurance Co trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,000 shares of the utilities provider's stock after selling 13,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Public Service Enterprise Group were worth $6,090,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. CoreCap Advisors LLC raised its position in shares of Public Service Enterprise Group by 92.6% during the 4th quarter. CoreCap Advisors LLC now owns 1,862 shares of the utilities provider's stock valued at $157,000 after purchasing an additional 895 shares during the period. Focus Partners Wealth raised its position in shares of Public Service Enterprise Group by 97.1% during the 4th quarter. Focus Partners Wealth now owns 32,237 shares of the utilities provider's stock valued at $2,728,000 after purchasing an additional 15,885 shares during the period. Jefferies Financial Group Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter valued at $1,690,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Public Service Enterprise Group by 37.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,350 shares of the utilities provider's stock valued at $5,352,000 after acquiring an additional 17,388 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in Public Service Enterprise Group by 20.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 20,774 shares of the utilities provider's stock valued at $1,755,000 after acquiring an additional 3,504 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 0.6%

PEG traded up $0.46 on Monday, reaching $83.15. 655,220 shares of the company traded hands, compared to its average volume of 2,848,633. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The firm has a fifty day simple moving average of $84.45 and a two-hundred day simple moving average of $82.10. The company has a market cap of $41.50 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 2.88 and a beta of 0.50. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

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

Public Service Enterprise Group Dividend Announcement

The firm 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 $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's payout ratio is currently 63.64%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Barclays cut their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. 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. BMO Capital Markets raised their target price on shares of 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. Morgan Stanley cut 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. Finally, UBS Group raised their target price on shares of 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 analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.55.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group 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.