Public Service Enterprise Group Incorporated $PEG Shares Bought by Osaic Holdings Inc.

Osaic Holdings Inc. boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 160.6% in the 2nd quarter, Holdings Channel reports. The firm owned 213,302 shares of the utilities provider’s stock after buying an additional 131,442 shares during the period. Osaic Holdings Inc.’s holdings in Public Service Enterprise Group were worth $17,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Aptus Capital Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 3.5% in the first quarter. Aptus Capital Advisors LLC now owns 8,578 shares of the utilities provider’s stock worth $706,000 after buying an additional 287 shares during the period. Legacy Financial Advisors Inc. boosted its stake in shares of Public Service Enterprise Group by 5.5% during the 1st quarter. Legacy Financial Advisors Inc. now owns 4,040 shares of the utilities provider’s stock valued at $332,000 after buying an additional 209 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Public Service Enterprise Group by 2.7% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 12,000 shares of the utilities provider’s stock valued at $988,000 after purchasing an additional 314 shares in the last quarter. Credit Agricole S A grew its stake in Public Service Enterprise Group by 7.0% in the first quarter. Credit Agricole S A now owns 162,674 shares of the utilities provider’s stock valued at $13,388,000 after purchasing an additional 10,642 shares in the last quarter. Finally, Candriam S.C.A. increased its position in Public Service Enterprise Group by 2.4% in the 1st quarter. Candriam S.C.A. now owns 63,294 shares of the utilities provider’s stock worth $5,209,000 after purchasing an additional 1,513 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Barclays increased their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Finally, BTIG Research started coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Stock Up 1.0%

PEG stock opened at $80.67 on Friday. The stock has a market capitalization of $40.27 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.59. The company has a 50-day moving average of $81.76 and a two-hundred day moving average of $82.70. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

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.