WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Securian Asset Management Inc.

VaselineAugust 13, 2024

0 4 minutes read

Securian Asset Management Inc. reduced its stake in the shares of WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission ( SEC ). The fund owned 18,101 shares of the utilities provider’s stock after selling 426 shares during the quarter. The holdings of Securian Asset Management Inc. holdings in WEC Energy Group were worth $1,420,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in WEC. Cerity Partners LLC boosted its holdings in shares of WEC Energy Group by 136.5% during the fourth quarter. Cerity Partners LLC now owns 30,751 shares of the utilities provider’s stock valued at $2,588,000 after purchasing an additional 17,750 shares in the last quarter. Valeo Financial Advisors LLC purchased a new position in WEC Energy Group in the 4th quarter valued at $278,000. Perigon Wealth Management LLC bought a new position in shares of WEC Energy Group in the fourth quarter valued at $201,000. Tennessee Valley Asset Management Partners purchased a new position in shares of WEC Energy Group during the fourth quarter valued at $26,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of WEC Energy Group in the fourth quarter valued at approximately $1,608,000. 77.20% of the shares are held by institutional investors and hedge funds.

The Wall Street analyst weighs in

A number of equities analysts recently issued reports on WEC shares. KeyCorp cut their price target on shares of WEC Energy Group from $96.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets lifted their price objective on shares of WEC Energy Group from $87.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on WEC Energy Group from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday. Finally, Barclays boosted their target price on shares of WEC Energy Group from $80.00 to $86.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $87.31, according to MarketBeat.

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Insider trading at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $88.45, for a total value of $66,337.50. Following the transaction, the director now owns 21,876 shares in the company, valued at $1,934,932.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other WEC Energy Group news, Director Ulice Payne, Jr. sold 750 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $88.45, for a total value of $66,337.50. Following the completion of the sale, the director now directly owns 21,876 shares of the company’s stock, valued at $1,934,932.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, VP Anthony Reese sold 1,362 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the transaction, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,462 shares of company stock worth $218,668. 0.34% of shares are held by insiders.

WEC Energy Group stocks rose 1.4%

Shares of NYSE:WEC opened at $89.24 on Tuesday. The firm has a 50-day simple moving average of $81.49 and a 200-day simple moving average of $81.01. WEC Energy Group, Inc. it has a 52-week low of $75.13 and a 52-week high of $92.23. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54, and a current ratio of 0.74. The company has a market cap of $28.18 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.27 and a beta of 0.41.

WEC Energy Group (NYSE:WEC – Get Free Report ) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.04. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $0.92 EPS. The company’s revenue fell 3.2% year over year. As a group, research analysts expect WEC Energy Group, Inc. to post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.835 per share. This represents a dividend of $3.34 on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Wednesday, August 14. WEC Energy Group’s dividend payout ratio (DPR) is currently 72.93%.

WEC Energy Group profile

(Free report)

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