Corebridge Financial Inc. Has $8.37 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Corebridge Financial Inc. decreased its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of WEC Energy Group by 1.3% during the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock worth $762,453,000 after acquiring an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 valued at $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP increased its holdings in WEC Energy Group by 17,270.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after purchasing an additional 4,691,017 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of WEC Energy Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock worth $363,350,000 after purchasing an additional 87,711 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of WEC Energy Group by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after purchasing an additional 46,609 shares in the last quarter. 77.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This represents a 8.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $119,795.50. Following the completion of the transaction, the director now owns 21,951 shares of the company’s stock, 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 Stock Performance

Shares of WEC stock opened at $106.27 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. The firm has a market cap of $33.56 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.60 and a beta of 0.45. WEC Energy Group, Inc. has a 52 week low of $77.47 and a 52 week high of $110.19. The firm’s 50-day simple moving average is $103.42 and its two-hundred day simple moving average is $98.81.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the firm posted $1.10 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and increased their target price for the company from $90.00 to $98.00 in a report on Thursday, December 12th. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Scotiabank upped 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 research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.88.

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.