Securian Asset Management Inc. Sells 3,355 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Securian Asset Management Inc. trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 12.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,632 shares of the utilities provider’s stock after selling 3,355 shares during the period. Securian Asset Management Inc.’s holdings in WEC Energy Group were worth $1,823,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Northwest Bank & Trust Co acquired a new position in WEC Energy Group during the second quarter worth $26,000. Dakota Community Bank & Trust NA acquired a new stake in shares of WEC Energy Group during the 2nd quarter worth about $27,000. Achmea Investment Management B.V. bought a new position in WEC Energy Group during the 1st quarter valued at about $27,000. First Manhattan Co. boosted its position in WEC Energy Group by 102.0% in the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after buying an additional 153 shares in the last quarter. Finally, Center for Financial Planning Inc. bought a new stake in WEC Energy Group during the second quarter worth about $33,000. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, November 30th. Mizuho reduced their price objective on WEC Energy Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, December 18th. KeyCorp increased their target price on WEC Energy Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. Guggenheim cut their price target on WEC Energy Group from $94.00 to $84.00 in a report on Monday, October 9th. Finally, lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, WEC Energy Group presently has an average rating of “Hold” and an average price target of $89.00.

Read Our Latest Stock Report on WEC Energy Group

Insider Activity at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $83.46, for a total value of $50,076.00. Following the completion of the sale, the director now owns 20,933 shares of the company’s stock, valued at $1,747,068.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Price Performance

WEC opened at $82.81 on Friday. The company has a fifty day moving average price of $83.23 and a two-hundred day moving average price of $84.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.42 and a current ratio of 0.60. The firm has a market capitalization of $26.12 billion, a PE ratio of 19.12, a P/E/G ratio of 2.85 and a beta of 0.42. WEC Energy Group, Inc. has a 52 week low of $75.47 and a 52 week high of $99.26.

WEC Energy Group (NYSE:WECGet Free Report) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. WEC Energy Group had a return on equity of 11.48% and a net margin of 14.80%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate that WEC Energy Group, Inc. will post 4.62 earnings per share for the current year.

WEC Energy Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 14th will be paid a dividend of $0.835 per share. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.34 annualized dividend and a yield of 4.03%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.06%.

WEC Energy Group Profile

(Free Report)

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

Further Reading

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Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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