Public Service Enterprise Group Incorporated (PSEG) has seen various strides recently, despite consistent underperformance in the market. The group's holdings by Mitsubishi UFJ Asset Management and Victory Capital Management have been noted significantly, alongside a rise in stock holdings by BNP Paribas Financial Markets. However, entities such as Fisher Asset Management, Teacher Retirement System of Texas, Massachusetts Financial Services, and LSV Asset Management report selling their shares. Amid this activity, PSEG announced its 2023 and first quarter 2024 results. Notably, the group also declared quarterly dividends and increased the common stock dividend for 2024.
Critical SWOT analyses propose strategic insights into the Corporation, as the group elects new members, Ricardo G. Pérez, and Kenneth Y. Tanji, into its board of directors. Despite mixed earnings results and estimates, the group's upcoming dividend is reportedly larger than the previous year's, a compelling factor for investors. PSEG's 2024 non-GAAP operating earnings guidance also shows promising outlook.
However, concerns arise regarding the reported high debt usage and insider selling activities by the group's CEO and VP. Regardless, institutional investors remain the biggest bettors in the company, reaping rewards after a notable US$1.4b market cap gain last week.
Public Service Enterprise Group Incorporated PEG News Analytics from Wed, 31 May 2023 07:00:00 GMT to Thu, 16 May 2024 17:59:47 GMT - Rating 0 - Innovation -2 - Information 7 - Rumor -6
