6,318 Shares in WEC Energy Group, Inc. $WEC Purchased by Integrity Alliance LLC.

Key Points

• Integrity Alliance LLC bought 6,318 shares of WEC Energy Group, valued at approximately $689,000, during the first quarter, marking their entrance into the company's shareholder base.
• Insider Selling: Two executives sold a combined total of over 5,600 shares, indicating a decrease in their ownership, with insiders selling a total of 68,448 shares valued at $7.58 million in the last quarter.
• Analysts have downgraded the stock, with Goldman Sachs cutting its rating from "neutral" to "sell" and setting a new price target of $100.00.

Integrity Alliance LLC. purchased a new position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,318 shares of the utilities provider's stock, valued at approximately $689,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Horizon Investment Services LLC bought a new position in WEC Energy Group during the first quarter worth about $379,000. Los Angeles Capital Management LLC grew its holdings in WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after purchasing an additional 105,106 shares during the period. AustralianSuper Pty Ltd bought a new position in WEC Energy Group during the first quarter worth about $10,333,000. Sowell Financial Services LLC bought a new position in WEC Energy Group during the first quarter worth about $325,000. Finally, CWA Asset Management Group LLC grew its holdings in WEC Energy Group by 5.6% during the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after purchasing an additional 157 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling

In other news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the sale, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,620 shares of WEC Energy Group stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the completion of the sale, the director owned 20,360 shares of the company's stock, valued at approximately $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 in the last quarter. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

WEC has been the subject of a number of research analyst reports. The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Finally, Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, WEC Energy Group has an average rating of "Hold" and a consensus price target of $106.40.

WEC Energy Group Stock Up 0.3%

NYSE WEC opened at $109.70 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 1-year low of $91.94 and a 1-year high of $111.90. The company has a 50 day moving average of $107.80 and a 200-day moving average of $106.80. The company has a market cap of $35.31 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 3.01 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm's quarterly revenue was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 14th were given a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's payout ratio is presently 68.39%.

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.

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