Resona Asset Management Co. Ltd. Takes $11.61 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Resona Asset Management Co. Ltd. bought a new position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 123,363 shares of the utilities provider's stock, valued at approximately $11,611,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC raised its holdings in WEC Energy Group by 3,828.6% during the 4th quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider's stock worth $26,000 after purchasing an additional 268 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in WEC Energy Group in the fourth quarter valued at approximately $28,000. Hoey Investments Inc. bought a new stake in WEC Energy Group in the 4th quarter valued at approximately $42,000. Human Investing LLC acquired a new stake in WEC Energy Group in the 4th quarter valued at $52,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of WEC Energy Group by 140.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider's stock valued at $55,000 after buying an additional 345 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the transaction, the director now owns 274,955 shares in the company, valued at $29,865,612.10. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company's stock in a transaction on 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 directly owns 21,951 shares in the company, valued at approximately $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

NYSE:WEC traded up $0.89 during trading hours on Friday, hitting $106.40. 386,917 shares of the stock traded hands, compared to its average volume of 2,133,254. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1 year low of $77.47 and a 1 year high of $111.00. The stock has a 50 day moving average price of $105.05 and a 200 day moving average price of $99.70. The company has a market cap of $33.95 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 2.60 and a beta of 0.44.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced 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 firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

WEC has been the subject of several analyst reports. StockNews.com cut WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. Barclays upgraded shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Wells Fargo & Company raised their price objective 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. JPMorgan Chase & Co. raised WEC Energy Group from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $106.00 to $108.00 in a research report on Tuesday. Finally, Bank of America upgraded WEC Energy Group from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $104.38.

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.