Itau Unibanco Holding S.A. Purchases 3,407 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Itau Unibanco Holding S.A. increased its stake in Public Service Enterprise Group by 17.1% in Q1, owning $1.92 million worth of shares after purchasing an additional 3,407 shares.
• CEO Ralph A. Larossa sold 1,387 shares for approximately $115,287, reducing his ownership to 218,328 shares.
• Analysts have mixed ratings for the stock, with six recommending "Buy" and five rating it "Hold," while recent price targets vary from $82.00 to $103.00.

Itau Unibanco Holding S.A. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 17.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 23,291 shares of the utilities provider's stock after purchasing an additional 3,407 shares during the period. Itau Unibanco Holding S.A.'s holdings in Public Service Enterprise Group were worth $1,917,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Centre Asset Management LLC grew its holdings in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after purchasing an additional 121 shares during the period. FourThought Financial Partners LLC boosted its stake in shares of Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after acquiring an additional 127 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Public Service Enterprise Group by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after acquiring an additional 130 shares during the period. Summit Financial LLC boosted its stake in shares of Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after acquiring an additional 133 shares during the period. Finally, Apella Capital LLC boosted its stake in shares of Public Service Enterprise Group by 2.7% in the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after acquiring an additional 144 shares during the period. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEG. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Morgan Stanley dropped their price objective on 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 dropped their price objective on 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. Finally, UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $90.95.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 transaction 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 document filed with the SEC, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded down $0.99 during mid-day trading on Tuesday, reaching $81.34. The stock had a trading volume of 667,857 shares, compared to its average volume of 2,866,513. 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 company has a market cap of $40.59 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The business's 50 day moving average price is $84.68 and its 200 day moving average price is $82.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business 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 expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's dividend payout ratio is 63.64%.

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.