Jump Financial LLC Invests $7.16 Million in WEC Energy Group, Inc. (NYSE:WEC)

Jump Financial LLC purchased a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 85,100 shares of the utilities provider's stock, valued at approximately $7,163,000.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG raised its stake in shares of WEC Energy Group by 3.0% during the third quarter. Deutsche Bank AG now owns 5,495,925 shares of the utilities provider's stock worth $442,697,000 after acquiring an additional 158,652 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 4,295,729 shares of the utilities provider's stock worth $346,021,000 after purchasing an additional 142,412 shares during the last quarter. Invesco Ltd. boosted its position in WEC Energy Group by 3.8% during the third quarter. Invesco Ltd. now owns 4,216,264 shares of the utilities provider's stock valued at $339,620,000 after buying an additional 155,437 shares during the period. Morgan Stanley boosted its position in WEC Energy Group by 1.4% during the third quarter. Morgan Stanley now owns 3,354,181 shares of the utilities provider's stock valued at $270,179,000 after buying an additional 44,797 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of WEC Energy Group by 2.2% during the third quarter. Principal Financial Group Inc. now owns 1,851,616 shares of the utilities provider's stock valued at $149,148,000 after buying an additional 40,603 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

Insider Activity at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 2,830 shares of WEC Energy Group stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company's stock, valued at $3,402,131.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company's stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott J. Lauber sold 2,830 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $78.89, for a total value of $223,258.70. Following the completion of the transaction, the chief executive officer now directly owns 43,125 shares of the company's stock, valued at approximately $3,402,131.25. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WEC has been the subject of several analyst reports. BMO Capital Markets increased their target price on WEC Energy Group from $89.00 to $90.00 and gave the company a "market perform" rating in a report on Thursday, May 2nd. KeyCorp lifted their target price on shares of WEC Energy Group from $95.00 to $96.00 and gave the stock an "overweight" rating in a research note on Friday, April 19th. The Goldman Sachs Group initiated coverage on shares of WEC Energy Group in a research report on Wednesday, April 10th. They set a "neutral" rating and a $88.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of WEC Energy Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a research report on Friday, February 2nd. Finally, Barclays lowered their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an "underweight" rating for the company in a research note on Thursday, February 8th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, WEC Energy Group currently has an average rating of "Hold" and an average price target of $86.29.

WEC Energy Group Stock Down 0.2 %

WEC traded down $0.15 during midday trading on Friday, reaching $85.43. The company's stock had a trading volume of 2,226,079 shares, compared to its average volume of 1,839,917. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $94.96. The stock's 50-day moving average is $81.38 and its 200-day moving average is $81.52. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.44 and a beta of 0.40. The company has a current ratio of 0.55, a quick ratio of 0.42 and a debt-to-equity ratio of 1.24.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.07. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.92 billion. WEC Energy Group had a return on equity of 13.01% and a net margin of 16.67%. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 EPS. As a group, research analysts expect that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 14th will be paid a $0.835 dividend. This represents a $3.34 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Monday, May 13th. WEC Energy Group's payout ratio is 72.93%.

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.