64,508 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by ING Groep NV

ING Groep NV acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,508 shares of the utilities provider’s stock, valued at approximately $5,180,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Empowered Funds LLC lifted its position in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP lifted its position in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after purchasing an additional 12,172 shares during the period. Cresset Asset Management LLC lifted its position in Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC lifted its position in Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after purchasing an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after purchasing an additional 1,649 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. JPMorgan Chase & Co. increased their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $77.79 on Tuesday. The business has a 50 day moving average of $79.74 and a 200-day moving average of $80.93. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a market capitalization of $38.77 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.99 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm posted $1.43 earnings per share. The firm’s revenue 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. On average, equities research analysts predict 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 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. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 6,249 shares of company stock worth $498,795. Corporate insiders own 0.19% of the company’s stock.

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.