Allstate Corp Purchases Shares of 9,614 WEC Energy Group, Inc. (NYSE:WEC)

Allstate Corp bought a new stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,614 shares of the utilities provider's stock, valued at approximately $904,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in WEC Energy Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider's stock valued at $762,453,000 after buying an additional 105,580 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP raised its position in shares of WEC Energy Group by 17,270.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WEC Energy Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock worth $363,350,000 after purchasing an additional 87,711 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in WEC Energy Group by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider's stock valued at $212,691,000 after purchasing an additional 46,609 shares during the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Bank of America raised WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank lifted their target price on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a report on Monday, December 9th. Barclays raised WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, WEC Energy Group has an average rating of "Hold" and an average target price of $101.88.

Insider Buying and Selling

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the transaction, the director now directly owns 21,951 shares in the company, valued at $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gale E. Klappa sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now owns 274,955 shares of the company's stock, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

WEC Energy Group Stock Performance

WEC traded down $0.46 during trading on Thursday, hitting $108.38. The company's stock had a trading volume of 4,675,165 shares, compared to its average volume of 2,101,225. The firm has a market cap of $34.23 billion, a PE ratio of 22.44, a P/E/G ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The business's 50 day simple moving average is $104.19 and its 200-day simple moving average is $99.20. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00.

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

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.