Somerset Trust Co boosted its position in WEC Energy Group, Inc. (NYSE:WEC – Free Report) by 5.1% in the first quarter, HoldingsChannel reports. The firm owned 35,891 shares of the utilities provider’s stock after buying an additional 1,755 shares during the quarter. WEC Energy Group accounts for about 1.4% of Somerset Trust Co’s holdings, making the stock its 29th largest holding. Somerset Trust Co’s holdings in WEC Energy Group were worth $3,911,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after buying an additional 699,177 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of WEC Energy Group by 5.5% during the 4th quarter. Perigon Wealth Management LLC now owns 3,108 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 161 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of WEC Energy Group by 3.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,615 shares of the utilities provider’s stock worth $2,033,000 after purchasing an additional 744 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $216,000. Finally, Crews Bank & Trust bought a new stake in shares of WEC Energy Group in the 4th quarter worth approximately $289,000. 77.20% of the stock is owned by institutional investors.
Insider Activity
In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the company’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $107.77, for a total value of $232,244.35. Following the completion of the transaction, the vice president now directly owns 2,686 shares in the company, valued at approximately $289,470.22. This represents a 44.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on WEC
WEC Energy Group Price Performance
WEC stock opened at $107.51 on Friday. The stock has a market capitalization of $34.31 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 2.60 and a beta of 0.46. The firm’s 50-day moving average price is $106.98 and its two-hundred day moving average price is $102.38. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00.
WEC Energy Group (NYSE:WEC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.09. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $2.81 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. WEC Energy Group’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.97 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.
WEC Energy Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.8975 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.84. This represents a $3.59 annualized dividend and a dividend yield of 3.34%. WEC Energy Group’s payout ratio is 69.59%.
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.
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