Pacer Advisors Inc. Has $4.15 Million Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Pacer Advisors Inc. decreased its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 30.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,170 shares of the utilities provider’s stock after selling 19,275 shares during the quarter. Pacer Advisors Inc.’s holdings in WEC Energy Group were worth $4,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in WEC Energy Group by 9.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,425 shares of the utilities provider’s stock worth $2,152,000 after buying an additional 2,333 shares in the last quarter. EP Wealth Advisors LLC increased its position in shares of WEC Energy Group by 35.1% in the second quarter. EP Wealth Advisors LLC now owns 5,717 shares of the utilities provider’s stock worth $449,000 after purchasing an additional 1,485 shares during the period. Truist Financial Corp raised its stake in WEC Energy Group by 10.4% in the second quarter. Truist Financial Corp now owns 100,240 shares of the utilities provider’s stock valued at $7,865,000 after purchasing an additional 9,480 shares in the last quarter. Cetera Investment Advisers lifted its position in WEC Energy Group by 4.2% during the second quarter. Cetera Investment Advisers now owns 119,951 shares of the utilities provider’s stock worth $9,411,000 after purchasing an additional 4,835 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in WEC Energy Group during the second quarter worth about $231,000. Institutional investors own 77.20% of the company’s stock.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $99.52 on Friday. The firm has a market cap of $31.48 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.46 and a beta of 0.48. WEC Energy Group, Inc. has a 52 week low of $75.13 and a 52 week high of $102.79. The firm’s fifty day moving average is $96.74 and its 200-day moving average is $94.28. 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) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.12. WEC Energy Group had a return on equity of 11.72% and a net margin of 15.14%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The business’s quarterly revenue was down 4.8% on a year-over-year basis. Sell-side analysts predict that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Friday, February 14th will be given a $0.835 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.36%. WEC Energy Group’s dividend payout ratio (DPR) is currently 87.29%.

Insider Activity

In other WEC Energy Group news, Director Gale E. Klappa sold 40,269 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.56, for a total transaction of $4,009,181.64. Following the completion of the sale, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This trade represents a 12.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott J. Lauber sold 6,720 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $100.89, for a total value of $677,980.80. Following the completion of the transaction, the chief executive officer now directly owns 45,709 shares in the company, valued at $4,611,581.01. This represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,794 shares of company stock valued at $4,866,579. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WEC has been the subject of several analyst reports. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and raised 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 report on Monday, December 9th. StockNews.com raised WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.40.

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.