Synovus Financial Corp Has $287,000 Stock Holdings in WEC Energy Group, Inc. (NYSE:WEC)

Synovus Financial Corp boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,980 shares of the utilities provider’s stock after purchasing an additional 135 shares during the period. Synovus Financial Corp’s holdings in WEC Energy Group were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Global X Japan Co. Ltd. raised its stake in shares of WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Coastline Trust Co acquired a new position in WEC Energy Group in the third quarter worth approximately $29,000. William B. Walkup & Associates Inc. bought a new position in WEC Energy Group during the second quarter valued at approximately $31,000. Strategic Investment Solutions Inc. IL acquired a new stake in WEC Energy Group in the second quarter valued at approximately $38,000. Finally, Ashton Thomas Securities LLC bought a new stake in WEC Energy Group in the third quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Transactions at WEC Energy Group

In related news, Director Gale E. Klappa sold 40,269 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.56, for a total value of $4,009,181.64. Following the completion of the transaction, the director now directly owns 273,248 shares in the company, valued at approximately $27,204,570.88. This represents a 12.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott J. Lauber sold 6,720 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 of the company’s stock, valued at approximately $4,611,581.01. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,794 shares of company stock worth $4,866,579. 0.34% of the stock is currently owned by company insiders.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $92.94 on Thursday. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.59 and a beta of 0.46. The business has a 50 day moving average price of $97.68 and a 200 day moving average price of $90.76. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a twelve month low of $75.13 and a twelve month high of $102.79.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data 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. The company had revenue of $1.86 billion during 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%. WEC Energy Group’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. Research analysts predict that WEC Energy Group, Inc. will post 4.89 earnings per share for the current year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 14th will be given a $0.8925 dividend. This represents a $3.57 annualized dividend and a yield of 3.84%. This is a positive change from WEC Energy Group’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Friday, February 14th. WEC Energy Group’s dividend payout ratio (DPR) is currently 87.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WEC shares. Wells Fargo & Company raised their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Bank of America upgraded 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. BMO Capital Markets upped their price target on WEC Energy Group from $97.00 to $104.00 and gave the stock a “market perform” rating in a research note on Monday, December 2nd. Jefferies Financial Group started coverage on WEC Energy Group in a report on Thursday, September 19th. They set a “hold” rating and a $102.00 price objective on the stock. Finally, Barclays boosted their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, WEC Energy Group has an average rating of “Hold” and an average price target of $98.00.

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.