Tokio Marine Asset Management Co. Ltd. Has $683,000 Stake in WEC Energy Group Inc. (WEC)
Tokio Marine Asset Management Co. Ltd. increased its position in shares of WEC Energy Group Inc. (NYSE:WEC) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 10,465 shares of the company’s stock after buying an additional 163 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $683,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. State Street Corp increased its position in shares of WEC Energy Group by 7.3% in the first quarter. State Street Corp now owns 15,271,745 shares of the company’s stock valued at $917,370,000 after buying an additional 1,042,287 shares in the last quarter. Bank of Montreal Can purchased a new position in WEC Energy Group during the second quarter worth $38,722,000. Adage Capital Partners GP L.L.C. purchased a new position in WEC Energy Group during the first quarter worth $28,815,000. Renaissance Technologies LLC boosted its position in WEC Energy Group by 687.7% in the first quarter. Renaissance Technologies LLC now owns 232,402 shares of the company’s stock worth $13,960,000 after buying an additional 202,900 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in WEC Energy Group by 20.0% in the first quarter. Wellington Management Group LLP now owns 1,066,942 shares of the company’s stock worth $64,091,000 after buying an additional 177,978 shares during the last quarter. Institutional investors own 70.65% of the company’s stock.
WEC Energy Group Inc. (NYSE:WEC) traded down 0.38% during midday trading on Friday, reaching $57.09. 2,110,488 shares of the company traded hands. WEC Energy Group Inc. has a 12 month low of $47.98 and a 12 month high of $66.10. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 20.38 and a beta of 0.08. The firm’s 50 day moving average price is $60.43 and its 200 day moving average price is $61.05.
WEC Energy Group (NYSE:WEC) last posted its earnings results on Wednesday, July 27th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. WEC Energy Group had a net margin of 12.13% and a return on equity of 10.52%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted $0.58 EPS. WEC Energy Group’s revenue was up 61.7% compared to the same quarter last year. On average, analysts expect that WEC Energy Group Inc. will post $2.93 earnings per share for the current year.
WEC has been the topic of a number of recent analyst reports. Argus restated a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of WEC Energy Group in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of WEC Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $58.25.
In related news, EVP Robert M. Garvin sold 19,225 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $61.62, for a total value of $1,184,644.50. Following the transaction, the executive vice president now directly owns 27,710 shares in the company, valued at approximately $1,707,490.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Susan H. Martin sold 40,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $65.05, for a total transaction of $2,602,000.00. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.
WEC Energy Group Company Profile
WEC Energy Group, Inc, formerly Wisconsin Energy Corporation, is a holding company, which has electric and natural gas utility operations. The Company’s segments are Wisconsin, Illinois, other states, electric transmission, We Power, and corporate and other. The Company’s Wisconsin segment includes the electric and natural gas utility, and non-utility operations of Wisconsin Electric Power Company (Wisconsin Electric), Wisconsin Gas LLC (Wisconsin Gas) and Wisconsin Public Service Corporation (WPS), including Wisconsin Electric’s electric and WPS’s electric and natural gas operations in the state of Michigan.
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