Voya Investment Management LLC Sells 5,308 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Voya Investment Management LLC trimmed its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,161 shares of the utilities provider's stock after selling 5,308 shares during the period. Voya Investment Management LLC's holdings in WEC Energy Group were worth $8,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEC. Wellington Management Group LLP boosted its stake in WEC Energy Group by 134.2% in the fourth quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock valued at $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Geode Capital Management LLC lifted its stake in WEC Energy Group by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 8,063,653 shares of the utilities provider's stock valued at $756,423,000 after purchasing an additional 110,802 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock valued at $462,276,000 after purchasing an additional 699,177 shares during the period. Invesco Ltd. raised its stake in shares of WEC Energy Group by 7.9% in the fourth quarter. Invesco Ltd. now owns 4,212,188 shares of the utilities provider's stock valued at $396,114,000 after buying an additional 309,697 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock valued at $363,350,000 after buying an additional 87,711 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of WEC stock traded down $0.25 on Friday, reaching $108.54. The company's stock had a trading volume of 1,678,224 shares, compared to its average volume of 2,138,022. The company has a market capitalization of $34.63 billion, a P/E ratio of 22.47, a PEG ratio of 2.60 and a beta of 0.46. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $111.00. The stock's 50 day simple moving average is $106.84 and its 200-day simple moving average is $101.13. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business's revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 EPS. As a group, equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.8975 per share. The ex-dividend date is Wednesday, May 14th. This represents a $3.59 annualized dividend and a dividend yield of 3.31%. This is a boost from WEC Energy Group's previous quarterly dividend of $0.84. WEC Energy Group's dividend payout ratio (DPR) is 73.91%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WEC shares. Barclays lifted their price objective on WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 29th. BMO Capital Markets boosted their price target on shares of WEC Energy Group from $95.00 to $100.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Wells Fargo & Company raised their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and boosted their target price for the company from $106.00 to $108.00 in a report on Tuesday, April 8th. Finally, StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $105.38.

Insider Transactions at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares of the company's stock, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

About WEC Energy Group

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.