Los Angeles Capital Management LLC Sells 1,055 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Los Angeles Capital Management LLC trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 22.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,545 shares of the utilities provider’s stock after selling 1,055 shares during the quarter. Los Angeles Capital Management LLC’s holdings in WEC Energy Group were worth $333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Coastline Trust Co acquired a new position in WEC Energy Group in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of WEC Energy Group in the 3rd quarter valued at $45,000. Human Investing LLC acquired a new position in shares of WEC Energy Group during the 4th quarter valued at $52,000. Bank of Jackson Hole Trust bought a new position in WEC Energy Group during the fourth quarter worth $59,000. Finally, Kestra Investment Management LLC acquired a new stake in WEC Energy Group in the fourth quarter worth $61,000. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now owns 21,951 shares of the company’s stock, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a research report on Monday, December 9th. BMO Capital Markets raised their price objective on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. KeyCorp upped their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Finally, StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.88.

WEC Energy Group Stock Up 1.6 %

Shares of NYSE:WEC opened at $108.39 on Tuesday. The business’s 50 day moving average is $99.21 and its 200 day moving average is $97.17. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $108.43. The stock has a market cap of $34.44 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.60 and a beta of 0.49. 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 posted its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.50 billion. WEC Energy Group’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. On average, sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Friday, February 14th were given a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, February 14th. WEC Energy Group’s payout ratio is 73.91%.

About WEC Energy Group

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.