Livforsakringsbolaget Skandia Omsesidigt Sells 800 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 24.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,465 shares of the utilities provider’s stock after selling 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in WEC Energy Group were worth $269,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WEC. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at $28,000. Hoey Investments Inc. acquired a new stake in shares of WEC Energy Group in the 4th quarter valued at $42,000. Human Investing LLC acquired a new stake in shares of WEC Energy Group during the 4th quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 345 shares in the last quarter. Institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, VP Joshua M. Erickson sold 2,155 shares of WEC Energy Group stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total transaction of $232,244.35. Following the completion of the sale, the vice president now owns 2,686 shares of the company’s stock, valued at approximately $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE WEC opened at $105.53 on Wednesday. The stock has a fifty day simple moving average of $106.71 and a two-hundred day simple moving average of $102.74. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $111.00. The firm has a market cap of $33.68 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $3.15 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company earned $1.97 earnings per share. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were issued a $0.8975 dividend. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date was Wednesday, May 14th. WEC Energy Group’s dividend payout ratio (DPR) is presently 69.59%.

Analyst Ratings Changes

Several research firms recently weighed in on WEC. Scotiabank set a $115.00 price objective on WEC Energy Group and gave the company an “outperform” rating in a report on Wednesday, May 7th. Barclays boosted their target price on WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 29th. JPMorgan Chase & Co. raised WEC Energy Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $106.00 to $108.00 in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on WEC Energy Group from $115.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of “Hold” and an average target price of $107.13.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.