WEX Inc. (NYSE:WEX) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of WEX Inc. (NYSE:WEX) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,058 shares of the business services provider’s stock after selling 3,569 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of WEX worth $7,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC bought a new position in WEX in the 4th quarter valued at about $28,689,000. FMR LLC boosted its holdings in shares of WEX by 8.8% in the third quarter. FMR LLC now owns 1,555,507 shares of the business services provider’s stock valued at $326,237,000 after acquiring an additional 125,262 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of WEX by 82.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 175,690 shares of the business services provider’s stock valued at $36,847,000 after acquiring an additional 79,252 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of WEX during the fourth quarter valued at approximately $12,444,000. Finally, Fisher Asset Management LLC raised its holdings in WEX by 168.8% during the fourth quarter. Fisher Asset Management LLC now owns 82,896 shares of the business services provider’s stock worth $14,533,000 after purchasing an additional 52,056 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on WEX. UBS Group decreased their price target on WEX from $200.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Robert W. Baird set a $186.00 target price on WEX in a research note on Tuesday, February 18th. Bank of America cut shares of WEX from a “buy” rating to a “neutral” rating in a research report on Thursday, February 6th. Jefferies Financial Group lifted their price objective on shares of WEX from $180.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their target price on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, WEX presently has an average rating of “Hold” and an average target price of $187.80.

WEX Price Performance

Shares of NYSE:WEX opened at $155.91 on Friday. The company’s fifty day moving average is $162.87 and its two-hundred day moving average is $179.58. The company has a market cap of $6.05 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61. WEX Inc. has a 12-month low of $146.03 and a 12-month high of $244.04. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07.

WEX (NYSE:WEX) last announced its quarterly earnings data on Wednesday, February 5th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.16. WEX had a return on equity of 32.35% and a net margin of 11.78%. Equities analysts expect that WEX Inc. will post 14.09 earnings per share for the current fiscal year.

WEX Company Profile

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.