MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 3,789 Shares of WEC Energy Group, Inc. $WEC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its holdings in WEC Energy Group by 6.0%, selling 3,789 shares, and now owns 59,051 shares valued at $6.43 million.
• Insider trading has seen notable sales, with EVP Daniel Krueger selling 5,930 shares and Director Gale E. Klappa selling 35,000 shares, leading to significant decreases in their holdings.
• Wall Street analysts have downgraded WEC Energy Group's stock, with reports indicating a shift from "hold" to "sell" ratings, and a consensus price target of $106.40.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,051 shares of the utilities provider's stock after selling 3,789 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in WEC Energy Group were worth $6,435,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC bought a new stake in WEC Energy Group in the first quarter worth approximately $25,000. Hughes Financial Services LLC bought a new stake in WEC Energy Group in the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new stake in WEC Energy Group in the first quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in shares of WEC Energy Group during the 1st quarter worth $35,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after buying an additional 245 shares during the period. 77.20% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president owned 6,606 shares in the company, valued at approximately $734,190.84. This represents a 47.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction on Friday, August 1st. The shares were 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 of the company's stock, valued at approximately $30,447,317.37. This represents a 11.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,448 shares of company stock worth $7,581,132. Corporate insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. The Goldman Sachs Group downgraded shares of 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. Finally, UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the stock a "neutral" rating in a report on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $106.40.

WEC Energy Group Price Performance

NYSE:WEC opened at $109.35 on Thursday. The stock has a market cap of $35.20 billion, a P/E ratio of 20.95, a PEG ratio of 2.96 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $111.90. The company has a fifty day moving average price of $107.69 and a 200 day moving average price of $106.76. 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 released its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. The business's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 3.3%. The ex-dividend date was Thursday, August 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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