XTX Topco Ltd Sells 4,440 Shares of WEC Energy Group, Inc. (NYSE:WEC)

XTX Topco Ltd lessened its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 63.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,571 shares of the utilities provider’s stock after selling 4,440 shares during the quarter. XTX Topco Ltd’s holdings in WEC Energy Group were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its holdings in shares of WEC Energy Group by 13.4% in the 2nd quarter. Richardson Financial Services Inc. now owns 1,743 shares of the utilities provider’s stock worth $137,000 after buying an additional 206 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of WEC Energy Group by 6.3% during the 2nd quarter. Hsbc Holdings PLC now owns 549,669 shares of the utilities provider’s stock valued at $43,104,000 after acquiring an additional 32,395 shares during the period. Beck Bode LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter worth approximately $11,633,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of WEC Energy Group by 2.2% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,677 shares of the utilities provider’s stock worth $2,015,000 after purchasing an additional 546 shares during the period. Finally, Meiji Yasuda Life Insurance Co purchased a new stake in WEC Energy Group in the second quarter worth $218,000. 77.20% of the stock is owned by institutional investors.

Insider Activity at WEC Energy Group

In other news, VP William J. Guc sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the transaction, the vice president now directly owns 7,702 shares of the company’s stock, valued at $716,208.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following the sale, the vice president now directly owns 7,702 shares in the company, valued at approximately $716,208.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Mary Beth Straka sold 3,240 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $93.04, for a total value of $301,449.60. Following the completion of the sale, the vice president now directly owns 3,662 shares of the company’s stock, valued at approximately $340,712.48. The disclosure for this sale can be found here. Insiders sold 11,702 shares of company stock worth $1,078,058 in the last three months. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

WEC has been the topic of a number of recent research reports. KeyCorp upped their price target on WEC Energy Group from $95.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Scotiabank raised their price objective on shares of WEC Energy Group from $90.00 to $103.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their target price on shares of WEC Energy Group from $98.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Jefferies Financial Group assumed coverage on WEC Energy Group in a research report on Thursday, September 19th. They issued a “hold” rating and a $102.00 price target for the company. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, WEC Energy Group presently has a consensus rating of “Hold” and a consensus price target of $91.31.

WEC Energy Group Trading Up 0.7 %

Shares of WEC stock opened at $95.26 on Monday. The firm has a market cap of $30.09 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.43 and a beta of 0.44. The company has a quick ratio of 0.54, a current ratio of 0.74 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $96.65. The business has a 50-day moving average price of $91.11 and a two-hundred day moving average price of $84.44.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a net margin of 15.85% and a return on equity of 12.26%. The firm’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Equities analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal year.

WEC Energy Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 14th were paid a $0.835 dividend. This represents a $3.34 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend was Wednesday, August 14th. WEC Energy Group’s payout ratio is 72.93%.

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.