Assetmark Inc. Purchases 60,497 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Assetmark Inc. grew its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 172.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 95,495 shares of the utilities provider's stock after buying an additional 60,497 shares during the period. Assetmark Inc.'s holdings in WEC Energy Group were worth $8,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WEC. WoodTrust Financial Corp raised its position in shares of WEC Energy Group by 46.6% in the 4th quarter. WoodTrust Financial Corp now owns 5,389 shares of the utilities provider's stock worth $507,000 after acquiring an additional 1,714 shares in the last quarter. Alley Investment Management Company LLC raised its holdings in WEC Energy Group by 3.0% in the fourth quarter. Alley Investment Management Company LLC now owns 42,485 shares of the utilities provider's stock worth $3,995,000 after purchasing an additional 1,241 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in WEC Energy Group during the fourth quarter valued at $258,000. Alta Capital Management LLC boosted its holdings in shares of WEC Energy Group by 9.4% during the 4th quarter. Alta Capital Management LLC now owns 37,999 shares of the utilities provider's stock valued at $3,573,000 after buying an additional 3,262 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of WEC Energy Group by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock valued at $363,350,000 after buying an additional 87,711 shares in the last quarter. Institutional investors own 77.20% of the company's stock.

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WEC Energy Group Stock Up 3.0 %

WEC traded up $3.09 during trading on Friday, hitting $106.89. 3,884,535 shares of the company's stock traded hands, compared to its average volume of 2,281,444. The stock has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.60 and a beta of 0.45. The company's 50 day simple moving average is $100.03 and its two-hundred day simple moving average is $97.49. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $108.87. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37.

WEC Energy Group (NYSE:WEC - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The business had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period last year, the business earned $1.10 earnings per share. The company's quarterly revenue was up 3.0% on a year-over-year basis. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on WEC. Barclays raised shares of WEC Energy Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America upgraded shares of WEC Energy Group from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Scotiabank boosted their price target on WEC Energy Group from $103.00 to $110.00 and gave the stock a "sector outperform" rating in a research report on Monday, December 9th. Wells Fargo & Company raised their price objective on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Finally, StockNews.com downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $101.88.

Insider Transactions at WEC Energy Group

In other news, Director Gale E. Klappa sold 25,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now directly owns 274,955 shares in the company, valued at $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 sale, the director now owns 21,951 shares of the company's stock, valued at approximately $2,286,635.67. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.44% of the company's stock.

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.