Principal Financial Group Inc. Raises Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Principal Financial Group increased its stake in Public Service Enterprise Group by 3.0% in the fourth quarter, bringing its holdings to 636,660 shares valued at about $51.1 million.
• PEG reported better-than-expected quarterly results, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion, up 19.4% year over year.
• The company declared a quarterly dividend of $0.67 per share, equal to an annualized yield of 3.5%, while analysts currently rate the stock a consensus Moderate Buy.

Principal Financial Group Inc. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 636,660 shares of the utilities provider's stock after acquiring an additional 18,587 shares during the period. Principal Financial Group Inc. owned about 0.13% of Public Service Enterprise Group worth $51,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PEG. Empowered Funds LLC boosted its holdings in shares of Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock valued at $3,464,000 after acquiring an additional 12,172 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock valued at $405,000 after acquiring an additional 1,040 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock valued at $1,070,000 after acquiring an additional 5,250 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock valued at $4,785,000 after acquiring an additional 1,649 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 0.9%

Shares of NYSE PEG opened at $77.12 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52 week low of $76.00 and a 52 week high of $91.25. The firm has a 50-day moving average price of $81.94 and a 200 day moving average price of $81.57. The stock has a market capitalization of $38.43 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 2.94 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last year, the business earned $1.43 earnings per share. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group's payout ratio is presently 59.29%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PEG shares. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. Scotiabank reaffirmed a "sector perform" rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $87.50 to $84.50 in a report on Friday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 12th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.42.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,949 shares of company stock valued at $902,747. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Profile

Public Service Enterprise Group NYSE: PEG is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company's activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.

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