Amundi Pioneer Asset Management Inc. cut its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 6.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,052,052 shares of the utilities provider’s stock after selling 75,830 shares during the period. Amundi Pioneer Asset Management Inc. owned about 0.33% of WEC Energy Group worth $83,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of WEC. Blue Sky Asset Management LLC bought a new stake in WEC Energy Group during the first quarter worth approximately $25,000. ERTS Wealth Advisors LLC bought a new stake in WEC Energy Group in the fourth quarter worth about $30,000. Arbor Wealth Management LLC purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $32,000. Kings Point Capital Management purchased a new position in shares of WEC Energy Group during the fourth quarter worth approximately $34,000. Finally, CNB Bank increased its position in shares of WEC Energy Group by 253.8% during the first quarter. CNB Bank now owns 566 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 406 shares during the period. Institutional investors own 75.08% of the company’s stock.
Shares of WEC stock traded down $0.24 during mid-day trading on Monday, hitting $83.13. The stock had a trading volume of 1,630,998 shares, compared to its average volume of 1,681,488. The company has a current ratio of 0.69, a quick ratio of 0.58 and a debt-to-equity ratio of 1.02. WEC Energy Group Inc has a fifty-two week low of $63.19 and a fifty-two week high of $85.70. The company has a 50-day simple moving average of $82.55. The firm has a market cap of $26.19 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 4.04 and a beta of 0.13.
The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.84%. WEC Energy Group’s dividend payout ratio is currently 70.66%.
A number of research analysts recently commented on WEC shares. Zacks Investment Research raised shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Wolfe Research set a $77.00 target price on WEC Energy Group and gave the company a “sell” rating in a research report on Friday, April 26th. Scotiabank downgraded WEC Energy Group from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $76.00 to $78.00 in a research report on Wednesday, May 8th. Bank of America cut WEC Energy Group from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $82.00 to $85.00 in a report on Monday, June 24th. Finally, KeyCorp started coverage on WEC Energy Group in a report on Tuesday, June 4th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $75.15.
In related news, Director Allen L. Leverett sold 100,000 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $82.49, for a total value of $8,249,000.00. Following the transaction, the director now directly owns 131,281 shares of the company’s stock, valued at approximately $10,829,369.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott J. Lauber sold 3,360 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $82.50, for a total transaction of $277,200.00. The disclosure for this sale can be found here. Insiders have sold 471,457 shares of company stock valued at $38,588,620 in the last three months. Corporate insiders own 0.75% of the company’s stock.
About WEC Energy Group
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, 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.
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