Allianz Asset Management GmbH Boosts Stock Position in WEC Energy Group, Inc. $WEC

Allianz Asset Management GmbH grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 18.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,147 shares of the utilities provider's stock after buying an additional 27,616 shares during the period. Allianz Asset Management GmbH owned 0.06% of WEC Energy Group worth $18,355,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in WEC. Nuveen LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $403,372,000. Charles Schwab Investment Management Inc. lifted its holdings in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock worth $556,191,000 after purchasing an additional 726,267 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider's stock worth $77,290,000 after purchasing an additional 665,681 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider's stock worth $274,564,000 after purchasing an additional 430,269 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 5,960 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $110.98, for a total transaction of $661,440.80. Following the sale, the director owned 274,969 shares in the company, valued at approximately $30,516,059.62. This represents a 2.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the stock in a transaction 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 sale, the executive vice president owned 5,829 shares in the company, valued at $643,113.57. The trade was a 40.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,448 shares of company stock worth $7,581,132 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

WEC has been the topic of a number of research analyst reports. Wall Street Zen raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. UBS Group boosted their price target on WEC Energy Group from $117.00 to $122.00 and gave the stock a "neutral" rating in a report on Friday, October 10th. TD Cowen started coverage on WEC Energy Group in a report on Thursday. They issued a "hold" rating and a $125.00 price target on the stock. KeyCorp upped their price objective on WEC Energy Group from $110.00 to $123.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $106.00 to $100.00 in a report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $114.64.

WEC Energy Group Stock Up 0.6%

Shares of WEC opened at $116.84 on Monday. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 3.29 and a beta of 0.47. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $118.10. The business's 50 day simple moving average is $110.54 and its 200-day simple moving average is $107.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Tuesday, September 2nd. The utilities provider reported $1.43 earnings per share (EPS) for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.28 billion for the quarter. As a group, equities analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 14th. WEC Energy Group's dividend payout ratio is presently 68.39%.

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.

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