WEC Energy Group, Inc. $WEC Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. has significantly decreased its position in WEC Energy Group by 75.7%, selling off 120,527 shares during the 1st quarter, now holding only 38,651 shares valued at about $4.21 million.
• Institutional investors own 77.20% of WEC Energy Group's stock, with several firms, including Deutsche Bank and Charles Schwab, increasing their stakes in the company in recent quarters.
• WEC Energy Group's stock price saw varied analyst ratings, with Goldman Sachs reducing its rating to "sell" and Wells Fargo raising its target price to $124, reflecting mixed market sentiment.

Northwestern Mutual Wealth Management Co. decreased its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 75.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,651 shares of the utilities provider's stock after selling 120,527 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in WEC Energy Group were worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake 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 valued at $538,112,000 after purchasing an additional 173,006 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock valued at $567,727,000 after purchasing an additional 1,349,522 shares during the last quarter. JPMorgan Chase & Co. raised its stake in WEC Energy Group by 16.6% in the 1st 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 during the last quarter. Ameriprise Financial Inc. raised its stake in WEC Energy Group by 0.8% in the 1st quarter. Ameriprise Financial Inc. now owns 4,274,385 shares of the utilities provider's stock valued at $466,451,000 after purchasing an additional 33,810 shares during the last quarter. Finally, Northern Trust Corp raised its stake in WEC Energy Group by 4.9% in the 1st quarter. Northern Trust Corp now owns 4,003,464 shares of the utilities provider's stock valued at $436,298,000 after purchasing an additional 188,057 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Buying and Selling

In other WEC Energy Group news, EVP Molly A. Mulroy sold 4,030 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the transaction, the executive vice president directly owned 5,829 shares of the company's stock, valued at $643,113.57. This represents a 40.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of the company'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 value of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares in the company, valued at approximately $734,190.84. The trade was a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock worth $7,581,132 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WEC has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of 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 note on Wednesday, June 25th. Wells Fargo & Company lifted their price target on WEC Energy Group from $115.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. UBS Group set a $107.00 price target on WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, Scotiabank set a $115.00 price target on WEC Energy Group and gave the company an "outperform" rating in a report 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $106.40.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $107.64 on Thursday. The stock's 50 day moving average price is $107.08 and its 200 day moving average price is $106.48. The firm has a market capitalization of $34.65 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.95 and a beta of 0.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. WEC Energy Group, Inc. has a one year low of $91.89 and a one year high of $111.90.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $0.67 EPS. WEC Energy Group's revenue for the quarter was up 13.4% on a year-over-year basis. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. As a group, sell-side analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

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

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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