Pictet Asset Management Holding SA Has $291.29 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Pictet Asset Management Holding SA lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,598,385 shares of the utilities provider’s stock after acquiring an additional 787,624 shares during the period. Pictet Asset Management Holding SA’s holdings in Public Service Enterprise Group were worth $291,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. JPL Wealth Management LLC increased its stake in Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of Public Service Enterprise Group by 0.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after buying an additional 127 shares during the period. Simplicity Wealth LLC increased its position in 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 buying an additional 129 shares in the last quarter. Key Financial Inc increased its position 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 in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in Public Service Enterprise Group by 4.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.50 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market cap of $41.61 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 3.14 and a beta of 0.51. The stock’s fifty day simple moving average is $79.36 and its two-hundred day simple moving average is $80.81. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Truist Financial cut their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Finally, Wells Fargo & Company lifted their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group 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 transaction, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,284 shares of company stock valued at $747,665 over the last ninety days. 0.19% of the stock is currently owned by insiders.

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.