WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 409,990 shares of the utilities provider’s stock after selling 28,866 shares during the quarter. Victory Capital Management Inc. owned approximately 0.13% of WEC Energy Group worth $39,433,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of WEC Energy Group by 36.7% in the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider’s stock worth $201,328,000 after acquiring an additional 688,812 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of WEC Energy Group by 11.8% in the second quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider’s stock worth $153,372,000 after acquiring an additional 206,637 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of WEC Energy Group by 3.5% in the second quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider’s stock worth $139,889,000 after acquiring an additional 61,019 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of WEC Energy Group by 1.7% in the second quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider’s stock worth $106,385,000 after acquiring an additional 22,026 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of WEC Energy Group by 9.2% in the first quarter. Westwood Holdings Group Inc. now owns 1,320,723 shares of the utilities provider’s stock worth $108,458,000 after acquiring an additional 111,254 shares in the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

WEC Energy Group Stock Up 1.9 %

NYSE:WEC opened at $97.98 on Friday. The firm has a market capitalization of $31.00 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 2.61 and a beta of 0.44. The stock has a 50 day moving average of $96.15 and a 200-day moving average of $88.15. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $100.31. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.37.

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

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 14th will be issued a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group’s dividend payout ratio (DPR) is 81.66%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WEC shares. Jefferies Financial Group started coverage on WEC Energy Group in a research note on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. BMO Capital Markets upped their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a “market perform” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their price objective on WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America upped their price objective on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Finally, StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, WEC Energy Group presently has an average rating of “Hold” and an average target price of $94.45.

Insider Buying and Selling

In related news, VP Mary Beth Straka sold 3,240 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the transaction, the vice president now directly owns 3,662 shares of the company’s stock, valued at $340,712.48. This represents a 46.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. This trade represents a 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.