Securian Asset Management Inc. lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 43.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,823 shares of the utilities provider’s stock after selling 6,698 shares during the quarter. Securian Asset Management Inc.’s holdings in WEC Energy Group were worth $930,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in WEC. Vanguard Group Inc. boosted its position in WEC Energy Group by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 41,099,951 shares of the utilities provider’s stock worth $4,334,401,000 after acquiring an additional 819,627 shares during the period. Freestone Grove Partners LP lifted its holdings in shares of WEC Energy Group by 30,697.3% in the third quarter. Freestone Grove Partners LP now owns 620,565 shares of the utilities provider’s stock valued at $71,111,000 after buying an additional 618,550 shares during the period. Balyasny Asset Management L.P. boosted its stake in WEC Energy Group by 324.1% during the second quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider’s stock valued at $80,722,000 after buying an additional 592,028 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in WEC Energy Group during the third quarter worth about $57,028,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in WEC Energy Group during the third quarter worth about $40,362,000. Institutional investors and hedge funds own 77.20% of the company’s stock.
WEC Energy Group Trading Down 0.3%
Shares of WEC opened at $112.24 on Thursday. The business’s 50-day moving average price is $115.27 and its 200 day moving average price is $111.77. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $36.56 billion, a P/E ratio of 22.40, a P/E/G ratio of 2.71 and a beta of 0.50. WEC Energy Group, Inc. has a 1-year low of $100.61 and a 1-year high of $119.62.
WEC Energy Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 14th will be paid a $0.9525 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $3.81 dividend on an annualized basis and a yield of 3.4%. WEC Energy Group’s dividend payout ratio (DPR) is currently 76.05%.
Insiders Place Their Bets
In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $115.44, for a total transaction of $2,886,000.00. Following the sale, the director directly owned 276,600 shares of the company’s stock, valued at $31,930,704. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mary Beth Straka sold 2,815 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $115.50, for a total value of $325,132.50. Following the completion of the sale, the vice president owned 4,707 shares of the company’s stock, valued at $543,658.50. The trade was a 37.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,265 shares of company stock worth $3,960,053. Corporate insiders own 0.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on WEC shares. Barclays upped their price target on shares of WEC Energy Group from $111.00 to $117.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. KeyCorp boosted their target price on shares of WEC Energy Group from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Royal Bank Of Canada reissued a “sector perform” rating and set a $127.00 target price on shares of WEC Energy Group in a research note on Friday, January 23rd. Jefferies Financial Group decreased their price target on shares of WEC Energy Group from $124.00 to $121.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Finally, Mizuho set a $124.00 price target on WEC Energy Group in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $122.13.
Check Out Our Latest Stock Report on WEC Energy Group
About WEC Energy Group
WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.
Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.
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