Legal & General Group Plc Sells 11,673 Shares of WEX Inc. $WEX

Legal & General Group Plc lowered its stake in shares of WEX Inc. (NYSE:WEX) by 17.3% in the second quarter, Holdings Channel reports. The firm owned 55,675 shares of the business services provider’s stock after selling 11,673 shares during the period. Legal & General Group Plc’s holdings in WEX were worth $8,178,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Boston Partners acquired a new stake in shares of WEX in the second quarter worth $186,980,000. JPMorgan Chase & Co. raised its holdings in WEX by 1.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,085,795 shares of the business services provider’s stock worth $159,494,000 after acquiring an additional 17,691 shares during the period. Earnest Partners LLC lifted its position in WEX by 2.6% during the 1st quarter. Earnest Partners LLC now owns 895,406 shares of the business services provider’s stock worth $140,597,000 after acquiring an additional 22,672 shares during the last quarter. Lyrical Asset Management LP boosted its holdings in WEX by 0.3% during the first quarter. Lyrical Asset Management LP now owns 826,188 shares of the business services provider’s stock valued at $129,728,000 after acquiring an additional 2,754 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of WEX by 20,412.8% in the first quarter. Hsbc Holdings PLC now owns 638,563 shares of the business services provider’s stock valued at $99,069,000 after purchasing an additional 635,450 shares during the last quarter. Institutional investors own 97.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen Montgomery Smith bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $144.25 per share, for a total transaction of $144,250.00. Following the transaction, the director directly owned 7,971 shares of the company’s stock, valued at $1,149,816.75. This represents a 14.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Robert Joseph Deshaies sold 1,506 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $149.62, for a total value of $225,327.72. Following the completion of the sale, the chief operating officer owned 15,699 shares in the company, valued at $2,348,884.38. This trade represents a 8.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Robert W. Baird boosted their price objective on WEX from $198.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Wall Street Zen raised WEX from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of WEX in a research report on Wednesday, October 8th. Zacks Research lowered shares of WEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. cut their target price on shares of WEX from $195.00 to $175.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $172.92.

WEX Trading Up 0.0%

Shares of WEX stock opened at $146.51 on Wednesday. WEX Inc. has a 52-week low of $110.45 and a 52-week high of $189.84. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 3.99, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a fifty day moving average of $151.02 and a 200-day moving average of $154.79.

WEX (NYSE:WEX) last issued its earnings results on Wednesday, October 29th. The business services provider reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.45 by $0.14. The business had revenue of $691.80 million for the quarter, compared to analyst estimates of $678.25 million. WEX had a net margin of 10.81% and a return on equity of 45.36%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.35 EPS. WEX has set its Q4 2025 guidance at 3.760-3.960 EPS and its FY 2025 guidance at 15.760-15.96 EPS. On average, equities research analysts forecast 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.