WEC Energy Group Inc (NYSE:WEC) Shares Sold by The Manufacturers Life Insurance Company

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The Manufacturers Life Insurance Company lowered its holdings in shares of WEC Energy Group Inc (NYSE:WEC) by 8.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,689 shares of the utilities provider’s stock after selling 29,439 shares during the period. The Manufacturers Life Insurance Company’s holdings in WEC Energy Group were worth $23,699,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of WEC. Northern Trust Corp grew its position in shares of WEC Energy Group by 1.2% in the 1st quarter. Northern Trust Corp now owns 5,306,680 shares of the utilities provider’s stock valued at $419,652,000 after buying an additional 65,226 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of WEC Energy Group by 1.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 139,262 shares of the utilities provider’s stock valued at $11,012,000 after buying an additional 2,488 shares during the last quarter. Advisors Management Group Inc. ADV grew its position in shares of WEC Energy Group by 1.9% in the 1st quarter. Advisors Management Group Inc. ADV now owns 10,442 shares of the utilities provider’s stock valued at $826,000 after buying an additional 196 shares during the last quarter. OppenheimerFunds Inc. grew its position in shares of WEC Energy Group by 38.9% in the 1st quarter. OppenheimerFunds Inc. now owns 22,908 shares of the utilities provider’s stock valued at $1,812,000 after buying an additional 6,421 shares during the last quarter. Finally, State of Wisconsin Investment Board grew its position in shares of WEC Energy Group by 3.0% in the 1st quarter. State of Wisconsin Investment Board now owns 354,883 shares of the utilities provider’s stock valued at $28,064,000 after buying an additional 10,445 shares during the last quarter. 74.93% of the stock is owned by institutional investors.

In related news, Director Barbara L. Bowles sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $78.35, for a total transaction of $156,700.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP William J. Guc sold 4,481 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $78.10, for a total value of $349,966.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 471,457 shares of company stock worth $38,588,620. 0.75% of the stock is owned by corporate insiders.

Shares of WEC Energy Group stock opened at $83.61 on Friday. WEC Energy Group Inc has a one year low of $59.13 and a one year high of $84.55. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.58 and a current ratio of 0.69. The stock has a market cap of $26.37 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 4.04 and a beta of 0.13.

WEC Energy Group (NYSE:WEC) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.25 by $0.08. WEC Energy Group had a return on equity of 11.06% and a net margin of 14.03%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts expect that WEC Energy Group Inc will post 3.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Tuesday, May 14th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 2.82%. WEC Energy Group’s payout ratio is 70.66%.

WEC has been the topic of a number of analyst reports. Credit Suisse Group upped their price target on WEC Energy Group from $71.00 to $73.00 and gave the company a “neutral” rating in a research report on Thursday, February 14th. Argus upped their price target on WEC Energy Group to $85.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Zacks Investment Research upgraded WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Goldman Sachs Group lowered WEC Energy Group from a “neutral” rating to a “sell” rating and reduced their price target for the company from $71.00 to $70.00 in a research report on Monday, April 8th. Finally, Wolfe Research set a $77.00 price target on WEC Energy Group and gave the company a “sell” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $74.33.

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

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