RWC Asset Management LLP Has $21.86 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

RWC Asset Management LLP reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 272,267 shares of the utilities provider’s stock after selling 17,666 shares during the quarter. Public Service Enterprise Group accounts for 1.1% of RWC Asset Management LLP’s holdings, making the stock its 29th biggest holding. RWC Asset Management LLP’s holdings in Public Service Enterprise Group were worth $21,863,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PEG. Empowered Funds LLC grew its holdings in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Public Service Enterprise Group by 40.7% during the 1st 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 in the last quarter. Cresset Asset Management LLC lifted its position in shares of Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after buying an additional 1,040 shares during the last quarter. Jump Financial LLC lifted its position in shares of Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $79.48 on Monday. 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 company has a market capitalization of $39.61 billion, a PE ratio of 17.58, a P/E/G ratio of 2.99 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The stock has a 50-day moving average price of $79.80 and a two-hundred day moving average price of $80.96.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS 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 $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEG. Truist Financial dropped their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank restated a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Finally, Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. One investment 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. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,249 shares of company stock valued at $498,795 in the last ninety days. 0.19% of the stock is currently owned by company 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.