Public Service Enterprise Group Incorporated $PEG Shares Purchased by Swiss National Bank

Key Points

• Swiss National Bank increased its stake in Public Service Enterprise Group by 7.1% in the first quarter, bringing its holdings to 1,464,900 shares worth about $118.6 million. Institutional investors now own 73.34% of the utility company.
• Public Service Enterprise Group reported better-than-expected earnings for the quarter, posting $1.55 EPS on $3.85 billion in revenue, both above analyst estimates. The company also raised guidance, setting FY 2026 EPS outlook at 4.280-4.400.
• The company declared a quarterly dividend of $0.67 per share, equal to an annualized yield of 3.4%. Meanwhile, two top executives sold shares in recent weeks, including CEO Ralph A. Larossa and COO Kim C. Hanemann.

Swiss National Bank increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,464,900 shares of the utilities provider's stock after acquiring an additional 97,100 shares during the period. Swiss National Bank owned approximately 0.29% of Public Service Enterprise Group worth $118,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simplicity Wealth LLC lifted its stake in shares of Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider's stock valued at $320,000 after purchasing an additional 129 shares during the last quarter. Westfuller Advisors LLC raised its holdings in Public Service Enterprise Group by 7.3% in the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider's stock valued at $153,000 after buying an additional 129 shares during the period. Key Financial Inc raised its holdings in Public Service Enterprise Group by 2.6% in the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider's stock valued at $419,000 after buying an additional 133 shares during the period. Benjamin Edwards Inc. lifted its position in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider's stock valued at $272,000 after buying an additional 134 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its stake in Public Service Enterprise Group by 1.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider's stock worth $1,068,000 after buying an additional 138 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $77.85 on Tuesday. The stock's 50 day simple moving average is $79.61 and its 200 day simple moving average is $80.88. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The stock has a market capitalization of $38.80 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The firm's revenue 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. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is 59.29%.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares of the company's stock, valued at $22,957,345.99. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% 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 have sold 9,284 shares of company stock valued at $746,145 in the last quarter. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PEG shares. Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Truist Financial upped their price target on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus price target of $91.68.

Public Service Enterprise Group Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.