American Century Companies Inc. Reduces Position in WEC Energy Group, Inc. $WEC

Key Points

• American Century Companies Inc. has reduced its stake in WEC Energy Group by 40.4%, selling 686,765 shares, but still retains ownership of 1,015,063 shares valued at approximately $110.6 million.
• Multiple hedge funds are adjusting their holdings in WEC Energy Group, with significant increases in positions by firms such as GAMMA Investing LLC and Charles Schwab Investment Management Inc.
• WEC Energy Group recently announced an upcoming quarterly dividend of $0.8925 per share, resulting in an annualized dividend yield of 3.3% and a payout ratio of 68.39%.

American Century Companies Inc. lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 40.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,015,063 shares of the utilities provider's stock after selling 686,765 shares during the quarter. American Century Companies Inc. owned about 0.32% of WEC Energy Group worth $110,622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deutsche Bank AG boosted its holdings in WEC Energy Group by 3.1% in the 4th quarter. Deutsche Bank AG now owns 5,722,158 shares of the utilities provider's stock worth $538,112,000 after buying an additional 173,006 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 34.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after acquiring an additional 1,349,522 shares during the period. JPMorgan Chase & Co. grew its position in shares of WEC Energy Group by 16.6% in the first quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock valued at $556,191,000 after purchasing an additional 726,267 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of WEC Energy Group by 15.4% in the fourth quarter. Nuveen Asset Management LLC now owns 3,935,857 shares of the utilities provider's stock valued at $370,128,000 after purchasing an additional 526,014 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of WEC Energy Group by 3.8% during the 4th quarter. Northern Trust Corp now owns 3,815,407 shares of the utilities provider's stock valued at $358,801,000 after purchasing an additional 141,393 shares during the period. Institutional investors own 77.20% of the company's stock.

Insider Buying and Selling at WEC Energy Group

In related news, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the transaction, the chief executive officer owned 56,443 shares of the company's stock, valued at approximately $6,258,399.84. This trade represents a 14.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director owned 274,969 shares in the company, valued at approximately $30,447,317.37. The trade was a 11.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Price Performance

Shares of WEC stock traded up $0.3350 during trading on Wednesday, hitting $108.8150. The company had a trading volume of 2,588,141 shares, compared to its average volume of 2,232,991. The stock's 50-day moving average is $106.70 and its two-hundred day moving average is $106.22. The stock has a market capitalization of $35.02 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.92 and a beta of 0.42. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. WEC Energy Group, Inc. has a 52 week low of $90.61 and a 52 week high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates 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% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a $0.8925 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's dividend payout ratio is currently 68.39%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WEC shares. The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and cut their target price for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. Barclays increased their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Wells Fargo & Company upped their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $106.40.

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.