Corebridge Financial Inc. Has $8.37 Million Stake in WEC Energy Group, Inc. (NYSE:WEC)

Corebridge Financial Inc. lessened its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,980 shares of the utilities provider's stock after selling 3,574 shares during the quarter. Corebridge Financial Inc.'s holdings in WEC Energy Group were worth $8,368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after acquiring an additional 4,691,017 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of WEC Energy Group in the fourth quarter valued at $188,879,000. JPMorgan Chase & Co. raised its position in shares of WEC Energy Group by 17.0% in 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. Caisse DE Depot ET Placement DU Quebec raised its position in shares of WEC Energy Group by 57.7% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider's stock valued at $182,765,000 after purchasing an additional 695,317 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in shares of WEC Energy Group by 897.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 568,629 shares of the utilities provider's stock worth $54,694,000 after buying an additional 511,618 shares during the last quarter. Institutional investors own 77.20% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. KeyCorp increased their price target on shares of WEC Energy Group from $108.00 to $109.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Bank of America raised WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their target price for the company from $90.00 to $98.00 in a research report on Thursday, December 12th. Scotiabank lifted their price target 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. Wells Fargo & Company upped their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Finally, BMO Capital Markets lifted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $101.88.

Insiders Place Their Bets

In related news, Director Gale E. Klappa sold 25,000 shares of the company's stock in a transaction on Tuesday, March 4th. The stock was 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 in the company, valued at $29,865,612.10. This represents a 8.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction dated 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 transaction, the director now owns 21,951 shares in the company, valued at approximately $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

WEC Energy Group Price Performance

WEC stock traded down $0.12 during midday trading on Tuesday, reaching $108.86. The company had a trading volume of 2,171,566 shares, compared to its average volume of 2,090,402. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19. The stock has a 50 day moving average price of $103.96 and a 200-day moving average price of $99.13. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The company has a market capitalization of $34.38 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

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