The Manufacturers Life Insurance Company Acquires 260,238 Shares of WEC Energy Group, Inc. $WEC

Key Points

• The Manufacturers Life Insurance Company increased its holdings in WEC Energy Group by 131%, acquiring an additional 260,238 shares to own a total of 458,887 shares valued at approximately $50 million.
• Insider trading activity included significant sales, with Director Gale E. Klappa selling 5,960 shares at an average price of $110.98, resulting in a 2.12% decrease in their ownership.
• Analysts have mixed views on WEC Energy Group, with ratings ranging from "Sell" to "Outperform" and a consensus target price of $106.40.

The Manufacturers Life Insurance Company boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 131.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 458,887 shares of the utilities provider's stock after acquiring an additional 260,238 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of WEC Energy Group worth $50,010,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Horizon Investment Services LLC bought a new position in WEC Energy Group in the 1st quarter valued at about $379,000. Los Angeles Capital Management LLC lifted its position in WEC Energy Group by 2,964.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock valued at $11,841,000 after acquiring an additional 105,106 shares in the last quarter. AustralianSuper Pty Ltd bought a new position in WEC Energy Group in the 1st quarter valued at about $10,333,000. Sowell Financial Services LLC bought a new position in shares of WEC Energy Group during the 1st quarter worth approximately $325,000. Finally, CWA Asset Management Group LLC lifted its position in shares of WEC Energy Group by 5.6% during the 1st quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after buying an additional 157 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 5,960 shares of WEC Energy Group stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $110.98, for a total value of $661,440.80. Following the completion of the transaction, the director directly owned 274,969 shares in the company, valued at approximately $30,516,059.62. The trade was a 2.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $444,629.90. Following the completion of the transaction, the executive vice president owned 5,829 shares of the company's stock, valued at $643,113.57. This represents a 40.88% decrease in their ownership of the stock. 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 over the last 90 days. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. 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, the company has a consensus rating of "Hold" and a consensus target price of $106.40.

WEC Energy Group Trading Up 0.2%

Shares of WEC stock opened at $106.54 on Monday. The company has a 50 day moving average of $107.18 and a 200-day moving average of $106.59. 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 12-month low of $91.89 and a 12-month high of $111.90. The firm has a market cap of $34.29 billion, a P/E ratio of 20.41, a PEG ratio of 2.93 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly 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 quarter last year, the business posted $0.67 EPS. WEC Energy Group'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. Sell-side 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 declared a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date is Thursday, August 14th. This represents a $3.57 annualized dividend and a dividend yield of 3.4%. WEC Energy Group's dividend payout ratio (DPR) 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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