Lionshead Wealth Management LLC Trims Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Lionshead Wealth Management LLC has reduced its stake in Public Service Enterprise Group (PEG) by 46.9%, now owning 27,986 shares valued at approximately $2.3 million.
• Multiple institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., have increased their stakes in PEG, with Vanguard owning over 63 million shares valued at $5.25 billion.
• PEG recently reported earnings exceeding expectations, posting $0.77 EPS against an anticipated $0.70, while revenue rose to $2.81 billion, surpassing projections of $2.49 billion.

Lionshead Wealth Management LLC decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 46.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,986 shares of the utilities provider's stock after selling 24,686 shares during the period. Public Service Enterprise Group makes up about 2.4% of Lionshead Wealth Management LLC's portfolio, making the stock its 12th biggest holding. Lionshead Wealth Management LLC's holdings in Public Service Enterprise Group were worth $2,303,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after acquiring an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 2.3% during the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after buying an additional 162,261 shares during the last quarter. Northern Trust Corp raised its stake in shares of Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after buying an additional 335,135 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Public Service Enterprise Group by 5.2% during the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock valued at $385,439,000 after buying an additional 230,636 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Public Service Enterprise Group by 15.7% during the 4th 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 buying an additional 542,671 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business'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 transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group lifted their price objective 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. Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Barclays dropped 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 report on Thursday, July 10th. BMO Capital Markets raised 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 report on Wednesday, August 6th. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $83.6340 on Friday. 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 50 day moving average of $84.59 and a two-hundred day moving average of $82.32. 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 market cap of $41.74 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45.

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

Public Service Enterprise Group Announces Dividend

The business also recently announced 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 currently 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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.