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

Pictet Asset Management Holding SA grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598,385 shares of the utilities provider’s stock after purchasing an additional 787,624 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.72% of Public Service Enterprise Group worth $291,289,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Bayban acquired a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 company’s stock in a transaction dated 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 directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 9,284 shares of company stock valued at $747,665. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 1.0%

Shares of PEG opened at $83.50 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The business’s fifty day moving average is $79.36 and its 200-day moving average is $80.81. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market cap of $41.61 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.14 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 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the firm posted $1.43 earnings per share. Public Service Enterprise Group’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. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is 59.29%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research reports. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a report on Thursday, March 5th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Barclays raised their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Profile

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.