Livforsakringsbolaget Skandia Omsesidigt Lowers Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Livforsakringsbolaget Skandia Omsesidigt decreased its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 24.5% during the first quarter, HoldingsChannel reports. The firm owned 2,465 shares of the utilities provider’s stock after selling 800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in WEC Energy Group were worth $269,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WEC. Larson Financial Group LLC increased its holdings in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after buying an additional 268 shares during the period. Prudent Man Investment Management Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $28,000. Hoey Investments Inc. bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $42,000. Human Investing LLC bought a new stake in WEC Energy Group during the 4th quarter valued at approximately $52,000. Finally, Cullen Frost Bankers Inc. boosted its position in WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen raised WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. upgraded shares of WEC Energy Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Barclays boosted their target price on shares of WEC Energy Group from $99.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 29th. Scotiabank set a $115.00 price objective on shares of WEC Energy Group and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $107.13.

Insider Buying and Selling

In related news, VP Joshua M. Erickson sold 2,155 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president now directly owns 2,686 shares of the company’s stock, valued at $289,470.22. This represents a 44.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Up 0.6%

WEC opened at $105.53 on Wednesday. The firm has a 50-day simple moving average of $106.71 and a two-hundred day simple moving average of $102.74. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $111.00. The company has a market capitalization of $33.68 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, May 6th. The utilities provider reported $2.27 EPS for the quarter, beating the consensus estimate of $2.18 by $0.09. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.97 EPS. Analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th were given a dividend of $0.8975 per share. This represents a $3.59 annualized dividend and a dividend yield of 3.40%. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, May 14th. WEC Energy Group’s dividend payout ratio is currently 69.59%.

WEC Energy Group Company 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.