UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 268,680 Shares of WEC Energy Group, Inc. (NYSE:WEC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,315,867 shares of the utilities provider’s stock after selling 268,680 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.42% of WEC Energy Group worth $126,560,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. raised its stake in WEC Energy Group by 2.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,876 shares of the utilities provider’s stock worth $554,000 after purchasing an additional 142 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of WEC Energy Group by 359.5% in the first quarter. Cetera Investment Advisers now owns 115,116 shares of the utilities provider’s stock valued at $9,453,000 after buying an additional 90,062 shares during the period. Cetera Advisors LLC grew its position in WEC Energy Group by 76.7% during the first quarter. Cetera Advisors LLC now owns 28,740 shares of the utilities provider’s stock worth $2,360,000 after buying an additional 12,471 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in WEC Energy Group by 49.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 807 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 267 shares during the period. Finally, Mather Group LLC. lifted its position in shares of WEC Energy Group by 1,062.3% during the 2nd quarter. Mather Group LLC. now owns 12,181 shares of the utilities provider’s stock valued at $1,000,000 after acquiring an additional 11,133 shares during the period. Institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling at WEC Energy Group

In other news, CEO Scott J. Lauber sold 6,720 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $100.89, for a total transaction of $677,980.80. Following the completion of the sale, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the transaction, the director now owns 273,248 shares in the company, valued at approximately $27,204,570.88. The trade was a 12.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. KeyCorp raised their price target on WEC Energy Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Barclays raised their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the company an “underweight” rating in a report on Monday, October 7th. StockNews.com upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Bank of America raised their target price on WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.45.

WEC Energy Group Stock Performance

WEC Energy Group stock opened at $101.05 on Monday. The business has a 50 day moving average of $97.33 and a 200-day moving average of $89.49. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. WEC Energy Group, Inc. has a 1 year low of $75.13 and a 1 year high of $102.79. The company has a market capitalization of $31.97 billion, a P/E ratio of 24.71, a P/E/G ratio of 2.75 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities research analysts predict that WEC Energy Group, Inc. will post 4.87 earnings per share for the current year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 14th were issued a $0.835 dividend. This represents a $3.34 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Thursday, November 14th. WEC Energy Group’s payout ratio is presently 81.66%.

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.