WEC Energy Group, Inc. $WEC Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC significantly reduced its stake in WEC Energy Group by 66.9%, bringing its total holdings to 2,766 shares valued at approximately $288,000.
• The company recently announced a quarterly dividend of $0.8925 per share, which translates to an annual yield of 3.1%, with the payout scheduled for December 1st.
• WEC Energy Group's stock has shown movement, with a recent price of $116.84, and analysts have given it a consensus rating of "Hold" with a price target around $114.64.

Axxcess Wealth Management LLC trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 66.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,766 shares of the utilities provider's stock after selling 5,590 shares during the period. Axxcess Wealth Management LLC's holdings in WEC Energy Group were worth $288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in WEC Energy Group during the 1st quarter valued at about $25,000. Nova Wealth Management Inc. acquired a new position in WEC Energy Group during the 1st quarter valued at about $26,000. Hughes Financial Services LLC acquired a new position in WEC Energy Group during the 1st quarter valued at about $28,000. WPG Advisers LLC acquired a new stake in shares of WEC Energy Group in the 1st quarter worth approximately $35,000. Finally, ORG Partners LLC lifted its stake in shares of WEC Energy Group by 65.7% in the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock worth $34,000 after acquiring an additional 130 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,620 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $111.00, for a total transaction of $179,820.00. Following the sale, the director owned 20,360 shares in the company, valued at $2,259,960. The trade was a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction of $659,060.20. Following the sale, the executive vice president owned 6,606 shares in the company, valued at $734,190.84. This represents a 47.30% 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 worth $7,581,132. Company insiders own 0.50% of the company's stock.

WEC Energy Group Stock Up 0.6%

NYSE WEC opened at $116.84 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The company's 50 day simple moving average is $110.54 and its 200 day simple moving average is $107.96. WEC Energy Group, Inc. has a 12 month low of $91.94 and a 12 month high of $118.10. The company has a market capitalization of $37.61 billion, a P/E ratio of 22.38, a PEG ratio of 3.29 and a beta of 0.47.

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

WEC Energy Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WEC Energy Group in a research note on Wednesday, October 8th. Citigroup assumed coverage on shares of WEC Energy Group in a research note on Friday, October 3rd. They issued a "buy" rating and a $131.00 price target for the company. The Goldman Sachs Group lowered shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $106.00 to $100.00 in a research note on Wednesday, June 25th. UBS Group upped their price target on shares of WEC Energy Group from $117.00 to $122.00 and gave the stock a "neutral" rating in a research note on Friday, October 10th. Finally, Wall Street Zen raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Saturday, October 4th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of "Hold" and a consensus price target of $114.64.

WEC Energy Group 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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