Northwestern Mutual Wealth Management Co. Acquires 4,178 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Public Service Enterprise Group by 15.2% in the first quarter, now owning 31,751 shares worth approximately $2.6 million.
• Public Service Enterprise Group reported a quarterly earnings per share (EPS) of $0.77, exceeding analysts' expectations of $0.70, and announced a dividend of $0.63 per share.
• Analysts are generally optimistic about the stock, with a consensus price target of $90.95 and a majority rating of "Moderate Buy".

Northwestern Mutual Wealth Management Co. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 31,751 shares of the utilities provider's stock after purchasing an additional 4,178 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Public Service Enterprise Group were worth $2,613,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Nuveen LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at $95,076,000. Assenagon Asset Management S.A. lifted its stake in Public Service Enterprise Group by 476.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after acquiring an additional 759,873 shares in the last quarter. GAMMA Investing LLC lifted its stake in Public Service Enterprise Group by 8,465.1% during the 1st quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider's stock valued at $48,300,000 after acquiring an additional 580,029 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 worth $337,709,000 after acquiring an additional 542,671 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PEG. BMO Capital Markets increased 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 report on Wednesday, August 6th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Morgan Stanley dropped their target price on shares of 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. 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 note on Friday, July 25th. Finally, Barclays reduced their target price 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. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $90.95.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.37 on Thursday, reaching $81.72. 2,478,724 shares of the company traded hands, compared to its average volume of 2,468,839. The company has a 50 day moving average of $84.60 and a 200 day moving average of $82.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The firm has a market capitalization of $40.78 billion, a PE ratio of 20.64, a PEG ratio of 2.83 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 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group's revenue 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. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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 given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 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.