Principal Financial Group Inc. Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Principal Financial Group Inc. reduced its stake in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 9.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,632,674 shares of the utilities provider's stock after selling 168,448 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of WEC Energy Group worth $157,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its holdings in shares of WEC Energy Group by 58.1% in the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider's stock worth $25,000 after buying an additional 118 shares during the last quarter. Olistico Wealth LLC purchased a new stake in WEC Energy Group in the second quarter worth about $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group during the second quarter valued at approximately $31,000. Triad Wealth Partners LLC purchased a new stake in shares of WEC Energy Group in the 2nd quarter worth $36,000. Finally, ESL Trust Services LLC purchased a new position in WEC Energy Group in the 1st quarter worth approximately $37,000. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In related news, VP William J. Guc sold 6,000 shares of WEC Energy Group stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $92.99, for a total value of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares of the company's stock, valued at approximately $716,208.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP William J. Guc sold 6,000 shares of the business's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total transaction of $557,940.00. Following the completion of the sale, the vice president now owns 7,702 shares in the company, valued at $716,208.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 sale, the vice president now directly owns 3,662 shares in the company, valued at $340,712.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

WEC Energy Group Stock Performance

WEC Energy Group stock traded up $2.34 during mid-day trading on Friday, hitting $97.67. 1,451,520 shares of the company's stock traded hands, compared to its average volume of 2,156,975. The company has a market cap of $30.90 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.47 and a beta of 0.44. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $100.31. The firm has a 50 day moving average price of $95.72 and a 200 day moving average price of $87.56.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. WEC Energy Group had a net margin of 15.14% and a return on equity of 11.72%. WEC Energy Group's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. On average, equities analysts forecast that WEC Energy Group, Inc. will post 4.87 EPS for the current year.

WEC Energy Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.34 dividend on an annualized basis and a yield of 3.42%. WEC Energy Group's payout ratio is presently 81.66%.

Analyst Ratings Changes

A number of research firms have weighed in on WEC. Wells Fargo & Company upped their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of WEC Energy Group from $86.00 to $89.00 and gave the stock an "underweight" rating in a research note on Monday, October 7th. Scotiabank lifted their target price on WEC Energy Group from $90.00 to $103.00 and gave the company a "sector outperform" rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on WEC Energy Group in a report on Thursday, September 19th. They set a "hold" rating and a $102.00 price target for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $94.45.

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.