WEX Inc. (NYSE:WEX) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in shares of WEX Inc. (NYSE:WEX) by 2.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 40,299 shares of the business services provider’s stock after selling 911 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of WEX worth $7,130,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rise Advisors LLC purchased a new position in WEX in the 1st quarter worth $29,000. International Assets Investment Management LLC purchased a new stake in WEX in the second quarter valued at approximately $33,000. Blue Trust Inc. raised its position in WEX by 456.1% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $40,000 after buying an additional 187 shares during the last quarter. Covestor Ltd lifted its stake in WEX by 233.9% during the 1st quarter. Covestor Ltd now owns 187 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 131 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of WEX in the 1st quarter valued at $60,000. Institutional investors and hedge funds own 97.47% of the company’s stock.

WEX Stock Performance

NYSE:WEX opened at $210.00 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $8.80 billion, a PE ratio of 34.15, a P/E/G ratio of 1.22 and a beta of 1.55. WEX Inc. has a fifty-two week low of $161.95 and a fifty-two week high of $244.04. The company has a fifty day moving average of $190.14 and a two-hundred day moving average of $197.35.

WEX (NYSE:WEX) last released its quarterly earnings results on Thursday, July 25th. The business services provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.09. The firm had revenue of $673.50 million during the quarter, compared to the consensus estimate of $677.44 million. WEX had a net margin of 9.32% and a return on equity of 31.05%. As a group, research analysts forecast that WEX Inc. will post 13.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on WEX. William Blair raised shares of WEX to a “strong-buy” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods reduced their price objective on WEX from $275.00 to $230.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Wells Fargo & Company dropped their target price on WEX from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on WEX from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, WEX currently has an average rating of “Moderate Buy” and an average target price of $239.58.

Insider Activity

In related news, CFO Jagtar Narula sold 508 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $200.00, for a total transaction of $101,600.00. Following the completion of the sale, the chief financial officer now directly owns 7,120 shares in the company, valued at approximately $1,424,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other WEX news, CFO Jagtar Narula sold 508 shares of WEX stock in a transaction on Friday, September 13th. The shares were sold at an average price of $200.00, for a total transaction of $101,600.00. Following the sale, the chief financial officer now owns 7,120 shares of the company’s stock, valued at $1,424,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ann Elena Drew sold 1,182 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $172.73, for a total transaction of $204,166.86. Following the completion of the sale, the insider now owns 5,584 shares of the company’s stock, valued at $964,524.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,985 shares of company stock worth $1,094,907 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

About WEX

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.