Victory Capital Management Inc. Raises Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Victory Capital Management Inc. lifted its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 411,248 shares of the utilities provider's stock after purchasing an additional 15,531 shares during the period. Victory Capital Management Inc. owned 0.13% of WEC Energy Group worth $44,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WEC. Hughes Financial Services LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 1st quarter valued at approximately $32,000. Prudent Man Investment Management Inc. purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at approximately $28,000. Golden State Wealth Management LLC raised its position in WEC Energy Group by 252.6% in the first quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 245 shares during the period. Finally, Hoey Investments Inc. purchased a new stake in WEC Energy Group in the fourth quarter valued at approximately $42,000. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other WEC Energy Group news, VP Joshua M. Erickson sold 2,155 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $107.77, for a total value of $232,244.35. Following the sale, the vice president directly owned 2,686 shares in the company, valued at $289,470.22. This trade represents a 44.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

WEC Energy Group Stock Up 1.5%

Shares of NYSE:WEC traded up $1.56 during trading hours on Friday, reaching $107.76. The stock had a trading volume of 2,049,288 shares, compared to its average volume of 2,160,972. WEC Energy Group, Inc. has a 1 year low of $81.45 and a 1 year high of $111.00. The firm's 50 day moving average is $105.26 and its 200-day moving average is $104.31. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.40 and a current ratio of 0.50. The stock has a market capitalization of $34.39 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.96 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The utilities provider reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.18 by $0.09. WEC Energy Group had a return on equity of 12.94% and a net margin of 17.95%. The company had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the firm earned $1.97 earnings per share. WEC Energy Group's quarterly revenue was up 17.5% on a year-over-year basis. Research analysts predict 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 will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a $0.8925 dividend. This represents a $3.57 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Thursday, August 14th. WEC Energy Group's dividend payout ratio is presently 69.59%.

Analyst Ratings Changes

A number of analysts have issued reports on WEC shares. The Goldman Sachs Group lowered WEC Energy Group from a "neutral" rating to a "sell" rating and cut their target price for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. UBS Group set a $107.00 target price on WEC Energy Group and gave the company a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company boosted their target price on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Finally, JPMorgan Chase & Co. upgraded WEC Energy Group from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $106.00 to $108.00 in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price 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.