Glenmede Trust Co. NA Sells 6,092 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Glenmede Trust Co. NA cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,504 shares of the utilities provider's stock after selling 6,092 shares during the quarter. Glenmede Trust Co. NA's holdings in WEC Energy Group were worth $3,703,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Czech National Bank increased its position in WEC Energy Group by 7.0% during the third quarter. Czech National Bank now owns 64,388 shares of the utilities provider's stock worth $6,193,000 after acquiring an additional 4,205 shares during the period. DRW Securities LLC bought a new position in WEC Energy Group during the third quarter valued at about $1,392,000. Assenagon Asset Management S.A. raised its holdings in WEC Energy Group by 2,949.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 232,018 shares of the utilities provider's stock valued at $18,204,000 after acquiring an additional 224,410 shares in the last quarter. Atria Investments Inc raised its holdings in WEC Energy Group by 13.8% in the 3rd quarter. Atria Investments Inc now owns 62,873 shares of the utilities provider's stock valued at $6,047,000 after acquiring an additional 7,646 shares in the last quarter. Finally, RFG Advisory LLC grew its holdings in shares of WEC Energy Group by 35.0% during the 2nd quarter. RFG Advisory LLC now owns 29,446 shares of the utilities provider's stock worth $2,310,000 after purchasing an additional 7,640 shares in the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WEC. KeyCorp upped their target price on WEC Energy Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a report on Monday, October 7th. BMO Capital Markets increased their target price on WEC Energy Group from $91.00 to $93.00 and gave the stock a "market perform" rating in a report on Friday, August 23rd. Finally, StockNews.com raised WEC Energy Group from a "sell" rating to a "hold" rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $94.45.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, CEO Scott J. Lauber sold 6,720 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was 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 of the company's stock, valued at approximately $4,611,581.01. The trade was a 12.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gale E. Klappa sold 40,269 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,794 shares of company stock worth $4,866,579. Insiders own 0.34% of the company's stock.

WEC Energy Group Price Performance

Shares of WEC stock traded down $0.77 during trading hours on Friday, hitting $101.05. 1,037,770 shares of the company's stock were exchanged, compared to its average volume of 1,962,039. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The stock has a market cap of $31.97 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.75 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.65 and a quick ratio of 0.46. The stock's 50-day moving average is $97.33 and its 200-day moving average is $89.46.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. The company's revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 EPS. As a group, research analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group's dividend payout ratio is 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.