CIBC Private Wealth Group LLC Sells 77,306 Shares of WEC Energy Group, Inc. (NYSE:WEC)

CIBC Private Wealth Group LLC lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,113,239 shares of the utilities provider's stock after selling 77,306 shares during the period. CIBC Private Wealth Group LLC owned about 0.35% of WEC Energy Group worth $105,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Larson Financial Group LLC increased its stake in shares of WEC Energy Group by 3,828.6% in the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after acquiring an additional 268 shares during the last quarter. Human Investing LLC acquired a new stake in shares of WEC Energy Group in the fourth quarter valued at $52,000. Cullen Frost Bankers Inc. boosted its position in shares of WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock worth $55,000 after acquiring an additional 345 shares in the last quarter. Flagship Wealth Advisors LLC acquired a new position in WEC Energy Group during the fourth quarter worth approximately $56,000. Finally, Bank of Jackson Hole Trust acquired a new position in WEC Energy Group in the fourth quarter valued at $59,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

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WEC Energy Group Price Performance

NYSE:WEC traded down $1.68 during midday trading on Friday, hitting $106.85. 709,938 shares of the stock were exchanged, compared to its average volume of 2,099,825. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $34.09 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 2.60 and a beta of 0.44. The business has a 50-day moving average price of $104.41 and a two-hundred day moving average price of $99.27.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm's revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Wall Street Analyst Weigh In

WEC has been the subject of a number of analyst reports. StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 6th. Scotiabank upped their target price on WEC Energy Group from $103.00 to $110.00 and gave the company a "sector outperform" rating in a research note on Monday, December 9th. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and raised their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company raised 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 report on Wednesday, February 5th. One investment 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. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $101.88.

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.