Victory Capital Management Inc. Trims Stock Position in WEC Energy Group, Inc. (NYSE:WEC)

Victory Capital Management Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,990 shares of the utilities provider's stock after selling 28,866 shares during the quarter. Victory Capital Management Inc. owned 0.13% of WEC Energy Group worth $39,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WEC. American Century Companies Inc. grew its holdings in WEC Energy Group by 36.7% during the second quarter. American Century Companies Inc. now owns 2,566,001 shares of the utilities provider's stock valued at $201,328,000 after purchasing an additional 688,812 shares during the period. Earnest Partners LLC increased its holdings in WEC Energy Group by 11.8% in the 2nd quarter. Earnest Partners LLC now owns 1,954,778 shares of the utilities provider's stock worth $153,372,000 after acquiring an additional 206,637 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in WEC Energy Group by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,782,939 shares of the utilities provider's stock worth $139,889,000 after acquiring an additional 61,019 shares during the period. Clearbridge Investments LLC lifted its holdings in WEC Energy Group by 1.7% during the second quarter. Clearbridge Investments LLC now owns 1,355,909 shares of the utilities provider's stock valued at $106,385,000 after purchasing an additional 22,026 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in shares of WEC Energy Group by 9.2% in the first quarter. Westwood Holdings Group Inc. now owns 1,320,723 shares of the utilities provider's stock worth $108,458,000 after purchasing an additional 111,254 shares during the period. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of NYSE:WEC traded up $1.85 on Friday, reaching $97.98. The company's stock had a trading volume of 2,087,394 shares, compared to its average volume of 2,187,937. The company has a 50-day simple moving average of $96.24 and a 200 day simple moving average of $88.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.46 and a current ratio of 0.65. The company has a market cap of $31.00 billion, a P/E ratio of 23.96, a PEG ratio of 2.61 and a beta of 0.44. WEC Energy Group, Inc. has a 52-week low of $75.13 and a 52-week high of $100.31.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.12. The company had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.93 billion. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, equities research analysts anticipate that WEC Energy Group, Inc. will post 4.87 EPS for the current fiscal 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 paid a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, November 14th. WEC Energy Group's payout ratio is 81.66%.

Wall Street Analyst Weigh In

Several analysts have recently commented on WEC shares. Jefferies Financial Group initiated coverage on shares of WEC Energy Group in a research report on Thursday, September 19th. They set a "hold" rating and a $102.00 price objective on the stock. Wells Fargo & Company lifted their target price on WEC Energy Group from $103.00 to $106.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an "underperform" rating in a report on Thursday, August 29th. BMO Capital Markets boosted their target price on shares of 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, Scotiabank raised their target price on shares of WEC Energy Group from $90.00 to $103.00 and gave the company a "sector outperform" rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of "Hold" and an average price target of $94.45.

Insider Buying and Selling at WEC Energy Group

In other news, VP Mary Beth Straka sold 3,240 shares of the company's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the transaction, the vice president now owns 3,662 shares of the company's stock, valued at approximately $340,712.48. This represents a 46.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP William J. Guc sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 in the company, 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. Company insiders own 0.34% of the company's stock.

WEC Energy Group 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.