Legal & General Group Plc Lowers Stock Holdings in WEX Inc. $WEX

Legal & General Group Plc lessened its stake in WEX Inc. (NYSE:WEX) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,472 shares of the business services provider’s stock after selling 4,602 shares during the quarter. Legal & General Group Plc owned 0.14% of WEX worth $7,370,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of WEX by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 3,262,255 shares of the business services provider’s stock valued at $513,903,000 after buying an additional 12,099 shares during the period. Boston Partners boosted its stake in shares of WEX by 0.3% in the 3rd quarter. Boston Partners now owns 1,273,363 shares of the business services provider’s stock valued at $200,704,000 after buying an additional 4,227 shares during the period. Earnest Partners LLC boosted its stake in shares of WEX by 1.1% in the 3rd quarter. Earnest Partners LLC now owns 907,803 shares of the business services provider’s stock valued at $143,006,000 after buying an additional 10,027 shares during the period. Bank of America Corp DE boosted its stake in shares of WEX by 8.6% in the 3rd quarter. Bank of America Corp DE now owns 879,033 shares of the business services provider’s stock valued at $138,474,000 after buying an additional 69,375 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of WEX by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 642,813 shares of the business services provider’s stock valued at $101,271,000 after buying an additional 7,994 shares during the period. Hedge funds and other institutional investors own 97.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WEX shares. Mizuho decreased their price objective on WEX from $180.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. JPMorgan Chase & Co. decreased their price objective on WEX from $175.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, February 6th. UBS Group set a $165.00 price objective on WEX and gave the company a “neutral” rating in a research note on Friday, February 6th. Wall Street Zen cut WEX from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Morgan Stanley lifted their price objective on WEX from $146.00 to $158.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $172.70.

Insiders Place Their Bets

In related news, COO Joel Alan Dearborn, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $175.00, for a total transaction of $612,500.00. Following the completion of the sale, the chief operating officer owned 22,872 shares in the company, valued at $4,002,600. The trade was a 13.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jennifer Kimball sold 715 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $157.82, for a total value of $112,841.30. Following the sale, the chief accounting officer owned 6,203 shares of the company’s stock, valued at approximately $978,957.46. The trade was a 10.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,019 shares of company stock worth $1,446,996 in the last three months. 1.40% of the stock is owned by company insiders.

WEX Price Performance

WEX stock opened at $147.96 on Friday. The business has a 50 day moving average price of $152.54 and a 200 day moving average price of $153.43. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.91 and a beta of 0.85. WEX Inc. has a fifty-two week low of $132.35 and a fifty-two week high of $186.85. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 2.83.

WEX (NYSE:WEX) last posted its earnings results on Wednesday, April 22nd. The business services provider reported $4.15 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.23. The firm had revenue of $673.80 million during the quarter, compared to analysts’ expectations of $660.96 million. WEX had a return on equity of 42.66% and a net margin of 11.50%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.51 earnings per share. WEX has set its FY 2026 guidance at 18.950-19.550 EPS and its Q2 2026 guidance at 4.930-5.130 EPS. Equities research analysts anticipate that WEX Inc. will post 16.49 earnings per share for the current fiscal year.

WEX declared that its board has approved a stock repurchase program on Thursday, May 14th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the business services provider to buy up to 21.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

WEX Company Profile

WEX Inc is a global financial technology company specializing in business payment solutions for fleet, travel, and corporate payments. The company delivers software-driven platforms and card-based services that help businesses automate payment processes, manage expenses and improve operational efficiency across a range of industries, including transportation, healthcare and government.

Founded in 1983 as Wright Express in Portland, Maine, the company began by offering fuel card services to trucking fleets.