WEX Inc. (NYSE:WEX) Stock Holdings Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in shares of WEX Inc. (NYSE:WEX) by 7.3% in the fourth quarter, Holdings Channel reports. The firm owned 45,058 shares of the business services provider’s stock after selling 3,569 shares during the period. Corebridge Financial Inc.’s holdings in WEX were worth $7,900,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc raised its position in WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after acquiring an additional 65 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of WEX by 25.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 66 shares in the last quarter. Xponance Inc. lifted its stake in shares of WEX by 1.4% in the 4th quarter. Xponance Inc. now owns 4,864 shares of the business services provider’s stock valued at $853,000 after purchasing an additional 68 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock valued at $1,959,000 after purchasing an additional 70 shares during the last quarter. Finally, Truvestments Capital LLC increased its position in WEX by 4.9% during the fourth quarter. Truvestments Capital LLC now owns 1,686 shares of the business services provider’s stock worth $296,000 after buying an additional 78 shares during the last quarter. 97.47% of the stock is currently owned by institutional investors and hedge funds.

WEX Price Performance

Shares of WEX stock opened at $155.91 on Friday. The firm has a fifty day moving average price of $162.87 and a two-hundred day moving average price of $179.58. WEX Inc. has a fifty-two week low of $146.03 and a fifty-two week high of $244.04. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04. The company has a market cap of $6.05 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.06 and a beta of 1.61.

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

Analysts Set New Price Targets

WEX has been the subject of a number of analyst reports. Mizuho reduced their price target on WEX from $215.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, February 10th. Robert W. Baird set a $186.00 target price on WEX in a report on Tuesday, February 18th. Citigroup downgraded WEX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Jefferies Financial Group lifted their price target on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company decreased their price objective on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $187.80.

WEX 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.