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 holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after buying an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. increased its stake 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 purchasing an additional 162,261 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 purchasing an additional 806,782 shares in the last quarter. Raymond James Financial Inc. increased its stake 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 purchasing an additional 230,636 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 purchasing an additional 542,671 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. UBS Group upped 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. Barclays reduced their price target on shares of 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. BMO Capital Markets upped their price target on shares of 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. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the 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 transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.00 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm has a fifty day simple moving average of $84.41 and a 200 day simple moving average of $82.11. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a market capitalization of $39.93 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.79 and a beta of 0.50.

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 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the firm posted $0.63 earnings per share. The company's quarterly revenue 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. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend 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.

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