Yahoo Finance Insider Buying: The WEC Energy Group, Inc. (NYSE:WEC) Independent Director Just Bought 63% More Shares
Even if it's not a huge purchase, we think it was good to see that Glen Tellock, the Independent Director of WEC Energy Group, Inc. (NYSE:WEC) recently shelled out US$91k to buy stock, at US$91.39 per share. Even though that isn't a massive buy, it did increase their holding by 63%, which is arguably a good sign.
See our latest analysis for WEC Energy Group
WEC Energy Group Insider Transactions Over The Last Year
In fact, the recent purchase by Glen Tellock was the biggest purchase of WEC Energy Group shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$94.41. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for WEC Energy Group share holders is that an insider was buying at near the current price. Glen Tellock was the only individual insider to buy during the last year.
The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of WEC Energy Group
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that WEC Energy Group insiders own 0.1% of the company, worth about US$41m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The WEC Energy Group Insider Transactions Indicate?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Insiders likely see value in WEC Energy Group shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Case in point: We've spotted 2 warning signs for WEC Energy Group you should be aware of, and 1 of these can't be ignored.
But note: WEC Energy Group may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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