Legal & General Group Plc Trims Stock Holdings in WEX Inc. (NYSE:WEX)

Legal & General Group Plc lessened its holdings in WEX Inc. (NYSE:WEX) by 8.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,420 shares of the business services provider’s stock after selling 6,416 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of WEX worth $11,469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC boosted its holdings in shares of WEX by 38.4% in the third quarter. Barclays PLC now owns 21,535 shares of the business services provider’s stock valued at $4,516,000 after purchasing an additional 5,972 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of WEX by 112.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 4,760 shares of the business services provider’s stock worth $998,000 after buying an additional 2,519 shares during the period. World Investment Advisors LLC bought a new position in shares of WEX during the 3rd quarter worth $2,507,000. Wilmington Savings Fund Society FSB purchased a new position in shares of WEX during the third quarter valued at $35,000. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of WEX by 265.1% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,280 shares of the business services provider’s stock valued at $926,000 after acquiring an additional 3,834 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Wall Street Analysts Forecast Growth

WEX has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on WEX from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. UBS Group lowered their price target on shares of WEX from $200.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Barclays reduced their price objective on shares of WEX from $200.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Jefferies Financial Group raised their target price on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on WEX from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $187.80.

WEX Trading Down 3.6 %

NYSE:WEX opened at $122.60 on Thursday. WEX Inc. has a 1 year low of $110.45 and a 1 year high of $235.65. The stock has a market cap of $4.20 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.06 and a beta of 1.33. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.04 and a current ratio of 1.02. The stock has a 50-day simple moving average of $148.30 and a 200-day simple moving average of $172.29.

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

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.