Johnson Financial Group Inc. Acquires 19,164 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Johnson Financial Group Inc. boosted its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 106.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,214 shares of the utilities provider's stock after purchasing an additional 19,164 shares during the quarter. Johnson Financial Group Inc.'s holdings in WEC Energy Group were worth $3,694,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of WEC. Wellington Management Group LLP boosted its holdings in WEC Energy Group by 134.2% during the 4th quarter. Wellington Management Group LLP now owns 11,047,753 shares of the utilities provider's stock worth $1,038,931,000 after acquiring an additional 6,329,574 shares during the last quarter. Raymond James Financial Inc. purchased a new position in WEC Energy Group during the 4th quarter worth $188,879,000. JPMorgan Chase & Co. boosted its holdings in WEC Energy Group by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after acquiring an additional 699,177 shares during the last quarter. Donaldson Capital Management LLC purchased a new position in WEC Energy Group during the 4th quarter worth $36,421,000. Finally, Federated Hermes Inc. boosted its holdings in shares of WEC Energy Group by 24.4% in the 4th quarter. Federated Hermes Inc. now owns 1,972,553 shares of the utilities provider's stock worth $185,499,000 after buying an additional 387,178 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company's stock.

Insider Buying and Selling

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total value of $2,715,500.00. Following the transaction, the director now owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

WEC Energy Group Price Performance

NYSE:WEC traded up $0.70 during trading hours on Tuesday, hitting $109.24. The stock had a trading volume of 1,500,167 shares, compared to its average volume of 2,142,926. WEC Energy Group, Inc. has a one year low of $77.47 and a one year high of $111.00. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.60 and a quick ratio of 0.43. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 2.60 and a beta of 0.44. The company has a 50 day simple moving average of $106.49 and a two-hundred day simple moving average of $100.82.

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

WEC Energy Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.8975 per share. This is an increase from WEC Energy Group's previous quarterly dividend of $0.84. This represents a $3.59 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Wednesday, May 14th. WEC Energy Group's payout ratio is currently 73.91%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays boosted their price target on shares of WEC Energy Group from $99.00 to $101.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. StockNews.com raised shares of WEC Energy Group from a "sell" rating to a "hold" rating in a research report on Wednesday, April 16th. BMO Capital Markets raised their price objective on shares of WEC Energy Group from $95.00 to $100.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. raised shares of WEC Energy Group from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $106.00 to $108.00 in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, WEC Energy Group presently has a consensus rating of "Hold" and an average price target of $105.38.

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.