Charles Schwab Investment Management Inc. Buys 1,912,223 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Charles Schwab Investment Management Inc. boosted its position in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 102.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,776,071 shares of the utilities provider's stock after purchasing an additional 1,912,223 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of WEC Energy Group worth $362,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. increased its holdings in shares of WEC Energy Group by 58.1% during the second quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider's stock worth $25,000 after purchasing an additional 118 shares during the period. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the 2nd quarter valued at $29,000. Coastline Trust Co acquired a new stake in shares of WEC Energy Group during the 3rd quarter worth $29,000. William B. Walkup & Associates Inc. bought a new position in shares of WEC Energy Group in the second quarter worth $31,000. Finally, Triad Wealth Partners LLC acquired a new position in WEC Energy Group in the second quarter valued at about $36,000. 77.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the company's stock in a transaction on 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 sale, the director now owns 273,248 shares of the company's stock, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $92.99, for a total value of $557,940.00. Following 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 43.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,314 shares of company stock worth $5,047,988. Insiders own 0.34% of the company's stock.

WEC Energy Group Trading Down 0.3 %

Shares of WEC Energy Group stock traded down $0.30 on Friday, hitting $100.66. The stock had a trading volume of 1,304,599 shares, compared to its average volume of 2,217,336. The stock has a 50 day moving average of $96.69 and a 200 day moving average of $88.85. The firm has a market capitalization of $31.84 billion, a P/E ratio of 24.61, a PEG ratio of 2.74 and a beta of 0.44. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $101.43. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.12. The firm had revenue of $1.86 billion during 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%. The company's revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 EPS. Sell-side analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Dividend Announcement

The business also recently announced 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 3.32%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group's payout ratio is presently 81.66%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WEC shares. Wells Fargo & Company raised their target price on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Bank of America boosted their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an "underperform" rating in a research report on Thursday, August 29th. Barclays raised their target price on WEC Energy Group from $86.00 to $89.00 and gave the company an "underweight" rating in a report on Monday, October 7th. KeyCorp boosted their price target on WEC Energy Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets raised their price objective on WEC Energy Group from $91.00 to $93.00 and gave the company a "market perform" rating in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.