Rhumbline Advisers Reduces Its WEC Energy Group, Inc. Holdings

Rhumbline Advisers has scaled back its ownership in WEC Energy Group, Inc. by 0.7% during the third quarter. After selling 4,815 shares of the utility company, the investment firm's stake stood at 674,884 shares. The latest SEC filings reveal that Rhumbline Advisers retains approximately 0.21% of WEC Energy Group, equivalent to a market value of roughly $54.36 million.

Investment Adjustments in WEC Energy Group

Changes in WEC Energy Group's stock are not isolated to Rhumbline Advisers. Several hedge funds and institutional investors have also modified their holdings. Some, like Achmea Investment Management B.V., initiated new positions while others, including First Manhattan Co., more than doubled their existing stakes. Collectively, institutional investors have 75.75% ownership of WEC Energy Group's outstanding shares.

Insider Transactions at WEC Energy Group

WEC Energy Group has also seen insider trading activities, notably by Director Ulice Payne, Jr., who sold 600 company shares. These shares were sold at an average price of $83.46, totaling over $50,000. Insider ownership makes up 0.34% of the company's stock.

Performance and Dividend Increase of WEC Energy Group Stock

The stock performance of WEC Energy Group is closely watched, with shares opening at $78.00 recently. The company announced an increase in its quarterly dividend to $0.835 per share, showing a rise from its previous dividend of $0.78.

Analysts' Perspectives on WEC Energy Group

Analysts have had mixed reviews of WEC Energy Group, with variations in target prices and ratings, but the overall consensus points to a 'Hold' rating. Price targets have seen adjustments, with some analysts suggesting a bearish outlook.

In summary, WEC Energy Group has been a focal point for both insider and institutional transactions with varying implications on the market. As Rhumbline Advisers adjusts its investments, the broader market is taking note of the company's financial stance, leadership decisions, and analysts' forecasts.

investment, Rhumbline, WEC