Sun Sep 15 14:45:01 UTC 2024: ## Institutional Investor Trims Stake in WEC Energy Group Amidst Insider Stock Sales
**Milwaukee, WI (MarketBeat News)** – Bokf Na, an institutional investor, reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 1.8% in the second quarter, selling 542 shares. The move comes amidst a flurry of insider stock sales by WEC Energy Group executives.
Bokf Na now owns 28,837 shares of the utilities provider, worth $2,263,000. Meanwhile, WEC Energy Group executives, including VP Joshua M. Erickson and VP Mary Beth Straka, sold a combined 11,702 shares in the last quarter, worth $1,078,058.
Despite the reduced institutional interest, other investors have shown a growing appetite for WEC Energy Group. Opal Wealth Advisors LLC and Northwest Bank & Trust Co. acquired new positions in the company in the first and fourth quarters, respectively, while Global X Japan Co. Ltd. increased its stake by 58.1% in the second quarter.
WEC Energy Group’s stock opened at $95.85 on Friday, with a 52-week low of $75.13 and a 52-week high of $96.15. The company recently reported earnings of $0.67 per share for the second quarter, exceeding analyst expectations. However, revenue fell slightly compared to the previous year.
WEC Energy Group, through its subsidiaries, provides regulated natural gas and electricity, as well as renewable energy services across the United States. The company also announced a quarterly dividend of $0.835, paid on September 1st.
While the recent institutional and insider stock sales may raise some eyebrows, the overall market sentiment remains positive towards WEC Energy Group. The company’s strong earnings, dividend payouts, and expansion into renewable energy are likely to continue attracting investors in the long run.
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