Insight Wealth Strategies LLC Sells 610 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Insight Wealth Strategies LLC lessened its stake in shares of WEC Energy Group, Inc. (NYSE:WECFree Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,695 shares of the utilities provider’s stock after selling 610 shares during the quarter. Insight Wealth Strategies LLC’s holdings in WEC Energy Group were worth $348,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WEC. Global X Japan Co. Ltd. grew its position in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 118 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of WEC Energy Group during the third quarter valued at about $29,000. William B. Walkup & Associates Inc. bought a new stake in shares of WEC Energy Group during the second quarter worth about $31,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of WEC Energy Group in the second quarter valued at approximately $38,000. Finally, Ashton Thomas Securities LLC bought a new position in WEC Energy Group in the 3rd quarter valued at approximately $45,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 6,720 shares of the firm’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 transaction, the chief executive officer now owns 45,709 shares of the company’s stock, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 1,805 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $99.40, for a total value of $179,417.00. Following the sale, the director now directly owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,794 shares of company stock worth $4,866,579 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WEC. KeyCorp upped their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Jefferies Financial Group started coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target on the stock. StockNews.com upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Barclays upgraded WEC Energy Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.40.

Read Our Latest Stock Analysis on WEC

WEC Energy Group Stock Performance

NYSE:WEC opened at $91.98 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79. The company has a fifty day moving average of $96.74 and a 200-day moving average of $92.18. The firm has a market capitalization of $29.10 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.59 and a beta of 0.48.

WEC Energy Group (NYSE:WECGet Free Report) last released 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 net margin of 15.14% and a return on equity of 11.72%. The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue was down 4.8% on a year-over-year basis. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio is presently 87.29%.

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. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.

Further Reading

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

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