Robeco Institutional Asset Management B.V. Acquires 382,822 Shares of Public Service Enterprise Group Incorporated $PEG

Robeco Institutional Asset Management B.V. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 314.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504,441 shares of the utilities provider’s stock after acquiring an additional 382,822 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.10% of Public Service Enterprise Group worth $33,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PEG. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group in the second quarter worth $4,366,570,000. State Street Corp grew its position in shares of Public Service Enterprise Group by 1.4% in the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock valued at $2,392,713,000 after purchasing an additional 399,191 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $1,207,400,000. Legal & General Group Plc bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $554,994,000. Finally, Amundi raised its stake in shares of Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after purchasing an additional 1,653,832 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on PEG shares. Truist Financial cut their target price on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating for the company in a research note on Thursday, October 15th. Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. HSBC began coverage on shares of Public Service Enterprise Group in a research report on Thursday. They issued a “hold” rating and a $72.50 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.07.

Public Service Enterprise Group Trading Up 2.4%

Shares of PEG stock opened at $72.72 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group Incorporated has a 52-week low of $66.15 and a 52-week high of $87.63. The company has a market capitalization of $36.25 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 2.67 and a beta of 0.50. The business’s fifty day moving average is $71.48 and its 200 day moving average is $76.58.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.38 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the sale, the chief executive officer owned 279,490 shares of the company’s stock, valued at $18,859,985.20. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,166 shares of company stock worth $896,328 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.