Public Service Enterprise Group Incorporated $PEG Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Public Service Enterprise Group by 54.5%, owning 20,533 shares valued at $1,690,000 at the end of the first quarter.
• Analysts have set mixed price targets for the company's stock, with the current average target price at $90.95, reflecting a range of ratings from "Buy" to "Sell".
• Public Service Enterprise Group recently reported $0.77 earnings per share, exceeding expectations, and announced a quarterly dividend of $0.63 per share, with a dividend yield of 3.1%.

Vident Advisory LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 54.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,533 shares of the utilities provider's stock after buying an additional 7,243 shares during the period. Vident Advisory LLC's holdings in Public Service Enterprise Group were worth $1,690,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PEG. Vanguard Group Inc. grew its position in Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Nuveen LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $68,317,000. Assenagon Asset Management S.A. grew its position 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 worth $75,652,000 after purchasing an additional 759,873 shares during the last quarter. Finally, GAMMA Investing LLC grew its position 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 worth $48,300,000 after purchasing an additional 580,029 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEG. BMO Capital Markets upped their price objective 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 raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group upped their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Barclays dropped their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Stock Performance

Shares of PEG traded down $0.61 during trading hours on Friday, hitting $81.12. The stock had a trading volume of 1,798,506 shares, compared to its average volume of 2,458,189. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a 50-day moving average price of $84.55 and a 200 day moving average price of $82.17. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a market capitalization of $40.49 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 2.82 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the business posted $0.63 EPS. The business's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's dividend 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.