WEC Energy Group, Inc. (NYSE:WEC) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in WEC Energy Group, Inc. (NYSE:WEC) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,222 shares of the utilities provider’s stock after acquiring an additional 1,700 shares during the quarter. Public Sector Pension Investment Board’s holdings in WEC Energy Group were worth $5,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Czech National Bank raised its stake in WEC Energy Group by 7.0% in the 3rd quarter. Czech National Bank now owns 64,388 shares of the utilities provider’s stock valued at $6,193,000 after purchasing an additional 4,205 shares during the last quarter. DRW Securities LLC acquired a new position in shares of WEC Energy Group in the third quarter valued at approximately $1,392,000. Assenagon Asset Management S.A. raised its position in shares of WEC Energy Group by 2,949.7% in the second quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider’s stock valued at $18,204,000 after buying an additional 224,410 shares during the last quarter. Atria Investments Inc lifted its stake in shares of WEC Energy Group by 13.8% during the third quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider’s stock valued at $6,047,000 after buying an additional 7,646 shares during the period. Finally, RFG Advisory LLC boosted its position in WEC Energy Group by 35.0% during the second quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider’s stock worth $2,310,000 after acquiring an additional 7,640 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares of the company’s stock, valued at $4,611,581.01. This represents a 12.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of WEC Energy Group stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the sale, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,794 shares of company stock worth $4,866,579 in the last 90 days. 0.34% of the stock is owned by company insiders.

WEC Energy Group Price Performance

WEC Energy Group stock opened at $101.05 on Monday. The firm has a fifty day moving average of $97.33 and a 200-day moving average of $89.49. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $102.79. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $31.97 billion, a P/E ratio of 24.71, a PEG ratio of 2.75 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. As a group, analysts predict that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th were issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 81.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays boosted their price target on WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. BMO Capital Markets increased their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. KeyCorp increased their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Scotiabank upped their price target on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.45.

WEC Energy Group 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.