iA Global Asset Management Inc. Has $1.20 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

iA Global Asset Management Inc. lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,457 shares of the utilities provider’s stock after buying an additional 743 shares during the period. iA Global Asset Management Inc.’s holdings in WEC Energy Group were worth $1,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Coastline Trust Co acquired a new stake in WEC Energy Group during the 3rd quarter worth about $29,000. Global X Japan Co. Ltd. grew its position in WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 118 shares in the last quarter. William B. Walkup & Associates Inc. purchased a new position in WEC Energy Group during the second quarter valued at approximately $31,000. Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Securities LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on WEC Energy Group from $97.00 to $104.00 and gave the company a “market perform” rating in a research note on Monday, December 2nd. KeyCorp raised their price target on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. 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 for the company. Finally, Bank of America raised their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $96.18.

Insider Buying and Selling

In related news, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $100.89, for a total transaction of $677,980.80. Following the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. The trade was a 12.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gale E. Klappa sold 1,805 shares of the firm’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 completion of the sale, the director now owns 273,248 shares of the company’s stock, valued at $27,160,851.20. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is owned by company insiders.

WEC Energy Group Stock Performance

NYSE:WEC opened at $97.11 on Tuesday. The firm has a market capitalization of $30.72 billion, a PE ratio of 23.74, a PEG ratio of 2.63 and a beta of 0.46. 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, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79. The firm’s fifty day simple moving average is $97.69 and its 200 day simple moving average is $90.09.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.12. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share. On average, sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.89 EPS for the current year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be paid a $0.8925 dividend. This is an increase from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.68%. WEC Energy Group’s dividend payout ratio (DPR) is presently 87.29%.

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.