The Manufacturers Life Insurance Company Reduces Stock Holdings in WEX Inc. (NYSE:WEX)

The Manufacturers Life Insurance Company lowered its holdings in shares of WEX Inc. (NYSE:WEX - Free Report) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,497 shares of the business services provider's stock after selling 2,652 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of WEX worth $6,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in WEX during the third quarter valued at approximately $35,000. Jones Financial Companies Lllp raised its holdings in WEX by 108.4% in the 4th quarter. Jones Financial Companies Lllp now owns 248 shares of the business services provider's stock worth $43,000 after purchasing an additional 129 shares during the period. UMB Bank n.a. lifted its position in WEX by 552.5% during the fourth quarter. UMB Bank n.a. now owns 261 shares of the business services provider's stock valued at $46,000 after purchasing an additional 221 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in WEX by 72.2% during the fourth quarter. Quadrant Capital Group LLC now owns 272 shares of the business services provider's stock valued at $48,000 after purchasing an additional 114 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in WEX by 25.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider's stock worth $56,000 after buying an additional 66 shares in the last quarter. Institutional investors own 97.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on WEX from $180.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods dropped their price target on shares of WEX from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. UBS Group decreased their price objective on shares of WEX from $172.00 to $138.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Barclays dropped their target price on shares of WEX from $200.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Finally, Citigroup cut WEX from a "buy" rating to a "neutral" rating and decreased their price target for the company from $260.00 to $190.00 in a report on Tuesday, January 14th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, WEX presently has a consensus rating of "Hold" and a consensus target price of $182.40.

WEX Trading Down 0.9 %

Shares of WEX stock opened at $121.19 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.02 and a debt-to-equity ratio of 2.07. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 2.06 and a beta of 1.26. WEX Inc. has a twelve month low of $110.45 and a twelve month high of $217.47. The business has a 50-day moving average price of $139.53 and a 200-day moving average price of $163.44.

WEX (NYSE:WEX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.40 by $0.11. WEX had a return on equity of 32.35% and a net margin of 11.78%. The business had revenue of $636.60 million for the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the previous year, the company posted $3.46 EPS. The company's revenue was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that WEX Inc. will post 14.09 EPS 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.

Want to see what other hedge funds are holding WEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WEX Inc. (NYSE:WEX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.