Corebridge Financial Inc. Sells 3,574 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Corebridge Financial Inc. trimmed its position in WEC Energy Group, Inc. (NYSE:WEC) by 3.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 88,980 shares of the utilities provider’s stock after selling 3,574 shares during the period. Corebridge Financial Inc.’s holdings in WEC Energy Group were worth $8,368,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WEC. Private Trust Co. NA boosted its holdings in WEC Energy Group by 2.9% in the 3rd quarter. Private Trust Co. NA now owns 5,389 shares of the utilities provider’s stock valued at $518,000 after purchasing an additional 152 shares during the period. The Manufacturers Life Insurance Company boosted its stake in WEC Energy Group by 2.2% during the third quarter. The Manufacturers Life Insurance Company now owns 201,182 shares of the utilities provider’s stock valued at $19,350,000 after buying an additional 4,411 shares during the period. Brooklyn Investment Group purchased a new position in WEC Energy Group during the third quarter worth about $118,000. Townsquare Capital LLC grew its position in WEC Energy Group by 7.1% during the third quarter. Townsquare Capital LLC now owns 116,317 shares of the utilities provider’s stock worth $11,187,000 after buying an additional 7,731 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in WEC Energy Group by 1.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,176 shares of the utilities provider’s stock worth $7,038,000 after acquiring an additional 1,367 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WEC Energy Group

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of WEC Energy Group stock in a transaction that occurred 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 in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

WEC Energy Group Trading Up 0.4 %

Shares of WEC stock opened at $106.27 on Friday. The stock has a market capitalization of $33.56 billion, a PE ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19. 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 business has a 50-day moving average of $103.42 and a 200 day moving average of $98.81.

WEC Energy Group (NYSE:WEC) last issued 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). 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. As a group, sell-side analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WEC shares. Barclays upgraded 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. StockNews.com lowered shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 6th. Bank of America raised shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Scotiabank lifted their price objective on shares of WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. Finally, BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $101.88.

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.