Vanguard Amends PSEG Stake to 9.99% as of Dec 29, 2023

TL;DR

**Vanguard just updated its PSEG stake to 9.99%, a big institutional vote of confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, disclosing its ownership in Public Service Enterprise Group Inc. As of December 29, 2023, Vanguard holds 49,915,070 shares of Common Stock, representing 9.99% of the company. This is an amendment (Amendment No. 11), indicating a change in their previously reported holdings, which is important for investors as it shows a significant institutional investor's updated position in the utility company.

Why It Matters

This filing shows that a major institutional investor, Vanguard, maintains a significant stake in Public Service Enterprise Group Inc., signaling continued confidence or strategic positioning in the utility sector. Investors should note that large institutional holdings can influence stock stability and future trading patterns.

Risk Assessment

Risk Level: low — The filing indicates a stable, large institutional holding, which generally reduces volatility and risk for the stock.

Analyst Insight

Smart investors should view this as confirmation of a major institutional investor's continued, substantial stake in Public Service Enterprise Group Inc. This suggests stability and inclusion in broad market index funds, which can be a positive long-term signal. However, it doesn't indicate any immediate catalyst for price movement.

Key Numbers

• 49,915,070 — Shares Beneficially Owned (Represents the total number of Common Stock shares of Public Service Enterprise Group Inc. held by The Vanguard Group as of December 29, 2023.)
• 9.99% — Percentage of Class (Indicates the significant ownership stake The Vanguard Group holds in Public Service Enterprise Group Inc., making them a major shareholder.)
• 11 — Amendment Number (Shows this is the eleventh amendment to Vanguard's Schedule 13G filing for Public Service Enterprise Group Inc., indicating ongoing adjustments to their position.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• Public Service Enterprise Group Inc. (company) — subject company whose securities are being reported
• 49,915,070 (dollar_amount) — number of shares of Common Stock beneficially owned by Vanguard
• 9.99% (dollar_amount) — percentage of the class of Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event which required the filing of this statement
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will likely maintain a significant, stable position in Public Service Enterprise Group Inc. due to its nature as a utility stock, often favored by large index funds. (The Vanguard Group) — high confidence, target: 2025-12-31
• Public Service Enterprise Group Inc. stock may experience continued stability due to the large institutional ownership by Vanguard. (Public Service Enterprise Group Inc.) — medium confidence, target: 2024-12-31

FAQ

Filing Documents

• tv0119-publicserviceenterpri.htm (SC 13G/A) — 11KB
• 0001104659-24-020111.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Public Service Enterprise Group Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 80 Park Plaza Newark, NJ 07102-4109

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 744573106

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR