Public Service Enterprise Group Incorporated $PEG Shares Acquired by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions boosted its stake in Public Service Enterprise Group by 54.8% in the fourth quarter, ending with 42,257 shares worth about $3.39 million.
• The company reported strong quarterly results, with EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% year over year.
• Public Service Enterprise Group announced a quarterly dividend of $0.67 per share, implying an annualized yield of 3.4%, while analysts currently rate the stock a consensus Moderate Buy.

ABN Amro Investment Solutions lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 54.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,257 shares of the utilities provider's stock after acquiring an additional 14,966 shares during the period. ABN Amro Investment Solutions' holdings in Public Service Enterprise Group were worth $3,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA increased its position in Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock worth $225,704,000 after buying an additional 1,788,449 shares during the period. Ameriprise Financial Inc. increased its position in Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock worth $674,218,000 after buying an additional 715,051 shares during the period. Finally, Van ECK Associates Corp increased its position in Public Service Enterprise Group by 43.2% in the third quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider's stock worth $161,423,000 after buying an additional 583,773 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PEG shares. Barclays increased their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Evercore raised Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price on the stock in a research report on Thursday, March 5th. Scotiabank reaffirmed a "sector perform" rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Finally, Truist Financial dropped their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.19.

Public Service Enterprise Group Trading Up 1.4%

NYSE:PEG opened at $79.61 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The firm has a market capitalization of $39.67 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.53. The stock has a fifty day simple moving average of $80.51 and a 200 day simple moving average of $81.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the company posted $1.43 EPS. Public Service Enterprise Group's revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

About Public Service Enterprise Group

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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