Fifth Third Bancorp Purchases 98,740 Shares of Public Service Enterprise Group Incorporated $PEG

Fifth Third Bancorp grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 371.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 125,321 shares of the utilities provider’s stock after acquiring an additional 98,740 shares during the period. Fifth Third Bancorp’s holdings in Public Service Enterprise Group were worth $10,145,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Strategic Investment Advisors MI boosted its position in shares of Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after purchasing an additional 127 shares in the last quarter. Simplicity Wealth LLC raised its holdings in Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 129 shares in the last quarter. Westfuller Advisors LLC lifted its position in Public Service Enterprise Group by 7.3% during the first 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 lifted its position in Public Service Enterprise Group by 2.6% during the fourth 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. Finally, Benjamin Edwards Inc. boosted its holdings in shares of 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 valued at $272,000 after buying an additional 134 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7%

NYSE:PEG opened at $79.93 on Thursday. The company’s 50 day moving average price is $79.54 and its 200-day moving average price is $80.92. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The stock has a market cap of $39.83 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 3.03 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly 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 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 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 (DPR) is presently 59.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PEG. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.32.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction 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 in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. 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. In the last three months, insiders sold 9,284 shares of company stock valued at $746,145. 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.