Assetmark Inc. Purchases 43,357 Shares of WEC Energy Group, Inc. $WEC

Assetmark Inc. boosted its position in shares of WEC Energy Group, Inc. (NYSE:WEC) by 40.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,345 shares of the utilities provider’s stock after purchasing an additional 43,357 shares during the period. Assetmark Inc.’s holdings in WEC Energy Group were worth $15,562,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WEC. Nuveen LLC bought a new position in WEC Energy Group during the 1st quarter valued at about $403,372,000. Charles Schwab Investment Management Inc. boosted its position in WEC Energy Group by 34.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider’s stock valued at $567,727,000 after buying an additional 1,349,522 shares during the period. JPMorgan Chase & Co. boosted its position in WEC Energy Group by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider’s stock valued at $556,191,000 after buying an additional 726,267 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in WEC Energy Group by 1,529.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 709,209 shares of the utilities provider’s stock valued at $77,290,000 after buying an additional 665,681 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in WEC Energy Group by 20.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,519,401 shares of the utilities provider’s stock valued at $274,564,000 after buying an additional 430,269 shares during the period. 77.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Gale E. Klappa sold 5,960 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $110.98, for a total transaction of $661,440.80. Following the completion of the sale, the director owned 274,969 shares of the company’s stock, valued at $30,516,059.62. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott J. Lauber sold 9,231 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer directly owned 56,443 shares of the company’s stock, valued at $6,258,399.84. The trade was a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 22,741 shares of company stock worth $2,523,854. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Price Performance

Shares of WEC opened at $111.74 on Friday. The company has a 50 day moving average price of $111.92 and a 200-day moving average price of $108.67. WEC Energy Group, Inc. has a fifty-two week low of $91.94 and a fifty-two week high of $118.18. The stock has a market capitalization of $35.97 billion, a PE ratio of 21.12, a PEG ratio of 3.17 and a beta of 0.47. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.40 and a current ratio of 0.50.

WEC Energy Group (NYSE:WEC) last posted its earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. WEC Energy Group had a net margin of 17.75% and a return on equity of 12.60%. The company had revenue of $2.28 billion during the quarter. Equities analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be given a dividend of $0.8925 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group’s dividend payout ratio is presently 67.49%.

Wall Street Analysts Forecast Growth

WEC has been the subject of several research reports. Mizuho set a $125.00 price objective on shares of WEC Energy Group in a research report on Monday. BTIG Research raised shares of WEC Energy Group to a “strong-buy” rating in a research report on Wednesday, October 22nd. TD Cowen initiated coverage on shares of WEC Energy Group in a research report on Thursday, October 16th. They issued a “hold” rating and a $125.00 price objective for the company. Citigroup assumed coverage on shares of WEC Energy Group in a research report on Friday, October 3rd. They issued a “buy” rating and a $131.00 price objective for the company. Finally, Royal Bank Of Canada set a $131.00 price target on shares of WEC Energy Group in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, WEC Energy Group has an average rating of “Moderate Buy” and a consensus target price of $120.21.

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.